Organto Completes Acquisition of The New Fruit Group

Expands Sourcing and Supply Capabilities for Key European Markets

VANCOUVER, BC and BREDA, THE NETHERLANDS / ACCESSWIRE / January 3, 2023 / Organto Foods Inc. (TSX-V:OGO)(OTCQB:OGOFF)(FSE:OGF) ("Organto" or "the Company"), a leading provider of organic and value-added organic fruit and vegetable products today announced that the acquisition of 100% of the outstanding shares of NFG New Fruit Group GmbH ("NFG" or the "New Fruit Group") became effective yesterday.

Highlights:

• NFG's product offering compliments Organto's and focuses on organic, fairtrade and non-GMO banana, avocado and mango. NFG is a fully certified organic products supplier.
• NFG operates an asset light business model which is easily integrated with Organto's operating platform.
• NFG currently has a European sales focus with a strong existing retail customer base in Germany, Italy, France and Denmark.
• NFG adds additional global supply relationships with established grower partners in the Caribbean, South America and Africa.
• NFG's leadership team has extensive global organic fruit and vegetable experience.
• NFG's expected sales in 2023 of approx. €15 million (approx. CDN$20 million) are expected to make a positive EBITDA contribution to Organto.
• Multiple opportunities have already been identified to leverage Organto's infrastructure, diverse and complimentary product portfolio, and branded I AM Organic product capabilities across an expanded platform.

Foto: Accesswire

"We are extremely pleased to have completed this acquisition and sincerely welcome the New Fruit Group team to Organto. We continue to believe that the combination of our two businesses will leverage the unique capabilities of each organization as we pursue our mission of making organic fresh fruit and vegetable products available for every consumer, a mission we believe is good for both people and planet." commented Steve Bromley, Chair and Co-CEO of Organto and Rients van der Wal, Co-CEO of Organto and CEO of Organto Europe BV. "NFG adds significant size and scale to our business with their sales focus on important retail markets in Germany, Italy, France and Denmark. The complimentary components of their product portfolio will add sourcing and sales depth to our business, and we believe will provide opportunities to leverage Organto's infrastructure, diverse and complimentary product portfolio, and branded I AM Organic product capabilities."