Public Companies

Organto Commences Sales of Organic Asparagus – $OGO

Organto Foods Inc. (TSXV:OGO, OTC:OGOFF), an integrated provider of value-added organic vegetables and fruits today announced that it has re-established and expanded its year-round supply of organic asparagus, and has commenced sales into the European market.  The re-establishment of the organic asparagus program is a key step in the development of Organto’s year-round value-added organic vegetables product offering.

Organto’s year-round supply program will be supported by strategic growers located in Peru, Argentina and Mexico.  Supply has commenced from Peruvian sources and volumes are forecast to increase as additional growers begin their deliveries in the coming months.

“We are very pleased to have re-established our organic asparagus program, adding to our current organic fruits and vegetables sourcing and supply platform.” commented Rients van der Wal, CEO of Organto Europe BV.  “Demand for organic asparagus continues to grow globally and we believe this is a great addition to our product lineup.  We are excited to be working with these new strategic growers and also with suppliers we have worked with in the past, and we believe this will provide our customers with quality and consistent year-round product.”

Sales to customers in the Netherlands began in the second week of September.  The program is expected to expand as supply increases and other end markets are added, with potential revenues from the sale of distributed and branded “I am Organic” organic asparagus expected to grow over time to approximately CDN $6 to $8 million annually.

The addition of organic asparagus to Organto’s current product lineup aligns with Organto’s strategy to develop and expand its value-added organic vegetables and fruits product offering.  As part of its program to diversify its revenue streams and increase its relevance to its customer base, Organto continues to build its supply capabilities in value-added organic vegetables and is also expanding its product offering with a focus on organic soft, tropical and exotic fresh fruits and other organic vegetables.  Organto plans to continue to establish new supply relationships with strategic growers to expand its market presence and develop additional opportunities for Organto “I am Organic” branded products as well as private label and distributed product offerings.

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