Village Farms International Announces Transaction to Privatize its Fresh Produce Business

Vanguard Food LP, a privately held produce industry joint venture between Kennedy Lewis Investment Management, Sweat Equities, and Village Farms International, Delta, British Columbia, announced the closing of a transaction that created a new, emerging leader in the North American produce industry.

The previously announced transaction privatized certain assets and operations of Village Farms International’s fresh produce segment, leveraging decades of leadership in the cultivation, sales, marketing and distribution of produce with the intention of creating a premier branded CPG foods company, supporting healthy lifestyles and sustainable farming practices.

The parties expect to support Vanguard with additional capital resources to execute a roll-up strategy of other North American produce brands and assets, and plan to expand product categories and offerings for customers through M&A.

Michael A. DeGiglio, chief executive officer of Village Farms and interim chief executive officer of Vanguard Food LP comments, “Today’s announcement reflects the beginning of a new era for the legacy produce business of Village Farms, and we’re excited to begin building our shared vision for the future. This partnership makes us stronger, provides more resources to drive innovation and value for customers, and will serve as a catalyst for future growth and expansion.”