Welcome to our dedicated page for Organto Foods news (Ticker: OGOFF), a resource for investors and traders seeking the latest updates and insights on Organto Foods stock.
Organto Foods Inc. supplies certified organic and fairtrade produce to international retailers through a model built around global sourcing, logistics, and distribution. Company news commonly covers European retail programs, grower and supply partnerships, logistics capacity, and the expansion of its fresh produce platform.
Updates also address audited financial results prepared under IFRS, financing facilities for European foods operations, warrant exercises and other capital actions, leadership appointments, marketing and market-making engagements, and participation in fresh produce industry events.
Organto Foods Inc. (OTC PINK: OGOFF) announced its participation in the 2022 World Outlook Financial Conference on February 5. CEO Steve Bromley will present, promoting Organto's organic fruit and vegetable products. The company emphasizes its asset-light business model sourcing from five continents and serving 18 countries in Europe. Notably, Organto has achieved nine consecutive quarters of record revenue and margin growth. The firm aims to expand its operations through internal growth and acquisitions, reinforcing its commitment to sustainability.
Organto Foods Inc. has upgraded its OTC Pink Sheet listing to the OTCQB Venture Market, effective January 13, 2022. This move is designed to enhance trading accessibility for U.S. investors under the unchanged ticker symbol OGOFF. The OTCQB requires companies to meet high financial standards and adhere to U.S. securities laws. This upgrade, alongside previous DTC eligibility, aims to boost investor awareness and streamline trading experiences. Organto plans to leverage the growing global demand for healthy, sustainable food products.
Organto Foods Inc. announced the appointment of John Rathwell as Senior Vice President of Investor Relations and Corporate Development. Rathwell brings over 25 years of capital markets experience, having worked extensively at TD Securities. His expertise will support Organto's growth strategy in organic fruits and vegetables through internal expansion and acquisitions. Both Co-CEOs expressed enthusiasm regarding Rathwell’s contributions, emphasizing the company's commitment to sustainable practices and building a one-stop shop for organic products.
Organto Foods Inc. announces the appointment of Rob McKeracher as a Strategic Advisor, bringing over 20 years of experience in the food and beverage industry. His previous role as Chief Financial Officer at SunOpta involved driving financial reporting and corporate strategies, crucial for acquisitions and integrations. The company aims to enhance its growth in organic and specialty fruits and vegetables, leveraging McKeracher's expertise to execute its long-term ethical growth strategy. This strategic move is expected to support Organto's mission to become a leading provider in the sector.
Organto Foods Inc. reported record third quarter revenues of $4,298,282, a 57% increase year-over-year, marking the largest in the company's history. Gross profit reached $529,018, or 12.3% of revenues, up 85% from the previous year. Despite global logistics challenges, the company achieved nine consecutive quarters of revenue growth. However, net loss for the quarter was $1,948,165, compared to $509,967 the previous year, largely due to increased operational costs and a non-cash loss related to debt settlement.
Organto Foods Inc. has finalized agreements to acquire the operating assets of Zimbabwe Marketing Services (ZMS), enhancing its sourcing capabilities for organic and non-GMO produce from African regions. With annual revenues of approximately CDN $2.0 million, this acquisition is expected to be immediately EBITDA accretive. The deal includes customer and supplier relationships, along with trademark applications for the Awesome and Rawsome Fruits brands. The transaction awaits acceptance from the TSX Venture Exchange and aligns with Organto's strategic growth objectives.
Organto Foods Inc. (OTC PINK:OGOFF) announced an extension of its I AM Organic branded products with the addition of nine new fresh cut organic herbs, now available through Gorillas, Europe's fast-growing grocery delivery service. This development leverages the capabilities of Fresh Organic Choice, acquired in January 2021, to enhance Organto's product portfolio. The listing aims to meet consumer demand for high-quality, convenient organic products, supported by digital product passport technology. Organto's strategy focuses on building its brand while maintaining a sustainable and transparent supply chain.
Organto Foods Inc. has successfully acquired Beeorganic B.V. for €600,000 in cash and 1,579,670 common shares, expanding its presence in the organic banana market. This strategic move is expected to enhance Organto's product portfolio and is projected to be immediately EBITDA accretive. Beeorganic, with annual revenues of approximately CDN $6 million, operates under an asset-light business model. The acquisition aims to leverage digital passport technology for growth, with multiple market opportunities across various consumption channels. The transaction is pending acceptance by the TSX Venture Exchange.
Organto Foods Inc. announced an expansion of its I AM Organic product line with NS Stations, adding organic bananas to retail formats. This addition increases Organto's presence by 130 points of sale across the Netherlands' train stations. The bananas are sourced sustainably and sold year-round, accompanied by a digital product passport for transparency. Co-CEO Rients van der Wal expressed excitement over the partnership, focusing on convenience and sustainability. NS Stations aims to offer healthy products, aligning with Organto's mission of accessible organic options.
Organto Foods has launched its organic fresh cut fruits at Julia's, a convenience store in Dutch train stations, aiming to cater to health-conscious commuters. The fruit offerings include organic red apples, white grapes, and blueberries in recyclable packaging. This initiative enhances the company's commitment to sustainability and transparency through digital product passports. Furthermore, Organto clarified its planned acquisition of Beeorganic B.V., correcting the transaction value to €400,000 for shares. The company also granted stock options totaling 300,000 with a five-year term.