Village Farms International Posts Eight Consecutive Months of National Share Growth

Regaining #1 Position as Ontario’s Leading Licensed Producer in Q1 2024

VANCOUVER, British Columbia and ORLANDO, Fla., April 11, 2024 (GLOBE NEWSWIRE) -- Village Farms International, Inc. (“Village Farms” and “Company”) (NASDAQ: VFF) has gained national market share for eight consecutive months, making it the fastest growing producer among the top five licensed producers in Canada.¹ According to provincial data, the Company has also regained the #1 licensed producer position in Ontario, Canada’s largest provincial market, for the first time since 2022.²

“Our dedicated focus on developing a winning strategy rooted in high-quality flower has allowed us to continue to grow organic market share from a position of strength,” said Michael A. Degiglio, President & CEO of Village Farms International. “Our industry leadership has been earned through our team’s dedication, innovation, and a deep respect and understanding of our consumers, resulting in organic growth with our partner retailers and discerning consumers who come back to our products time and time again.”

Village Farms leads in Ontario with the top-three-selling ounces: Big Pleasures, D. Burger and Pure Sunfarms’ iconic Pink Kush, reinforcing its consistent dominance in the large format category for the past two years. Super Toast, the company’s most recent launch by Pure Sunfarms has also notably emerged as one of the fastest-growing brands in Ontario in just six months taking a significant 20% share of the milled category. This new brand continues to gain momentum nationally as well, as a top-growth brand in Canada.³

Dominance in markets across the country continue to solidify the company’s #2 position as a top producer nationally. In Quebec, Canada’s second most populous province, Village Farms has posted impressive share gains from circa 4% to circa 15% over the past two years, which have significantly contributed to the company's national momentum. The company not only maintained its #1 position in the flower category in Quebec, but also claims two of the top four brands, Promenade and Pure Laine, in the province from its subsidiary Rose LifeScience.⁵ Meanwhile, in Alberta, the company reached an all-time high market share of 8% in February, gaining nearly three share points since September. Three of the four largest Canadian provinces have met or exceeded Village Farms’ national market share rank, outgrowing their respective markets.⁴ In the fourth, British Columbia, Pure Sunfarms’ Fraser Valley Weed Co. brand reigns supreme as the #1 flower brand in the province.⁶