Business
Organto Provides Update on Fresh Organic Choice BV
Recently Acquired Subsidiary Realizing Strong Revenue Growth VANCOUVER, BC and BREDA, T...
About this update from Organto Foods, Inc.
[{"type":"text","content":"Organto Provides Update on Fresh Organic Choice BVRecently Acquired Subsidiary Realizing Strong Revenue Growth VANCOUVER, BC and BREDA, THE NETHERLANDS / ACCESSWIRE / April 7, 2021 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF)(FSE:OGF) (\"Organto\" or \"the Company\"), a leading provider of organic and value-added organic fruits and vegetables today provided an update on the operations of Fresh Organic Choice BV (\"Fresh Organic Choice\"), its wholly-owned subsidiary acquired in January, 2021.Since the acquisition, our commercial teams have successfully aligned go-to-market strategies and expanded the number of key European markets offering our products. Revenues for March 2021 were the highest in Fresh Organic Choice's history, driven by strong market demand and the initial impact of a number of new customer wins. Fresh Organic Choice branded organic fresh cut herbs have recently been listed with a fast-growing UK-based online supermarket serving approximately 625,000 active customers, with plans to expand the current herb product offering to include other Organto products such as organic asparagus. In addition, bulk herbs have been listed with a leading German organic retailer and wholesale distributor serving approximately 1,400 specialty commercial locations. Together with the commercial integration, work continues on expanding supply sources to meet expected category growth, and integrating back-end administrative and financial systems and processes.\"We are extremely pleased with the progress of Fresh Organic Choice and continue to believe that fresh cut organic herbs are a great fit with our fast-growing fresh organic fruits and vegetables platform. We are in the initial stages of our commercial and operational integration and are making solid progress. We remain confident that by combining our collective strengths we will be able to profitably expand the fresh herbs category with the goal of building out a profitable category with annual revenues of approximately CDN $10 million in the years to come.\" commented Steve Bromley, Chair and Co-CEO and Rients van der Wal, Co-CEO and CEO of Organto Europe BV.Herbs are recognized for their intense flavor and impressive nutritional profiles, including high levels of vitamins, essential minerals, antioxidants, fiber and antimicrobial properties, all considered important ingredi...