Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) (“Organto” or “the Company”), an integrated provider of value-added organic vegetables and fruits today announced that as part of its strategy to add organic soft fruit to its product portfolio, supply has been established and sales of organic blueberries have commenced into the European market. This represents Organto’s first sales of organic soft fruit, a key step in the development of Organto’s year-round value-added organic fruits and vegetables product offering.
Organto’s year-round supply program will be supported by strategic growers located in Argentina, Mexico and Peru. Initial supply has commenced from Argentina and is expected to increase as additional growers begin their deliveries in the coming months. Organto continues to expand its market presence and develop opportunities for Organto “I am Organic” branded products as well as private label and distributed product offerings.
“We are very pleased to have commenced sales of organic blueberries, adding to our current organic fruits and vegetables sourcing and supply platform.” commented Steve Bromley, Chair and Interim CEO, Organto Foods Inc.” The addition of organic soft fruits including organic blueberries is consistent with our strategic realignment that we announced in April of this year, focused on increasing revenue streams beyond value-added organic vegetables, deepening our supply relationships and rightsizing our cost base. We are having success on all three strategies, and are encouraged by the progress we are making.”
Sales of organic blueberries to customers in the Netherlands began in the first week of September and revenues generated from this initial supply source are forecast to grow to approximately CDN $25,000to $30,000 per week by the end of October 2018. The program is expected to expand as additional supply and other end markets are added. Organto expects potential revenues from the sale of distributed and branded “I am Organic” organic blueberries to grow to approximately CDN $5 to $7 million annually.
