Founded in 1989, the Canadian-headquartered Village Farms International (VFF) is a leading North American greenhouse grower of large-scale agriculture, with crops that include premium quality tomatoes, bell peppers and cucumbers. VFF made its debut into cannabis a few years ago when it entered into…
a joint partnership with Emerald Health Therapeutics. Initially each company owned 50% of the JV known as Pure Sunfarms. In September, VFF acquired the remaining ownership of Pure Sunfarms from Emerald Health Therapeutics. Pure Sunfarms is a Canadian firm that runs one of the world’s largest cannabis growing operations.
On Nov. 23, VFF announced that Pure Sunfarms received a Cannabis Research License from Health Canada, a federal agency, to conduct human administration trials for sensory evaluation of cannabis at its facility in British Columbia. The company also debuted its product line in Hong Kong through a luxury gift set featuring CBD-infused chocolates, bath salts, and tea bags.
Earlier in the third quarter, the company invested in Australia-based Altum International Pty Ltd, with the aim of expanding in the Asia-Pacific market. It also invested in DutchCanGrow, a Netherlands-based cannabis enterprise, with the goal of waiting for the Dutch government to grant licenses to local cannabis growers.
During its Q3 earnings call, CEO Mike DiGiglio stated VFF is ready to dominate the Canadian market by supplying “as much as 30% to 35% of the total Canadian cannabis flower market … in addition to being a leading brand in excess of 20% of the retail channel.”
In the U.S., VFF’s focus is the hemp-derived CBD market – the company has not announced plans to sail through the constellation of states where cannabis products can be legally sold. Working in a joint venture called…
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