Land Betterment Corporation subsidiary, Betterment Harvest, has successfully closed on 50% ownership interests in two world-class operational greenhouse companies, JC Fresh Farms Ltd. (“JC Fresh”) and Orangeline Farms Ltd. (“Orangeline”), anchored by 65 acres of state-of-the-art, controlled environment growing facilities based in Ontario, Canada.
Canada boasts one of the most robust greenhouse produce sectors in the world. Ontario alone has one of the highest concentrations of greenhouse facilities and ag-tech professional talent. This region consists of over 200 greenhouse farms growing a variety of produce on over 3,000 acres. These high-tech growing methods can yield up to 20 times more product per acre and utilize less water and less input than traditional farming methods. Every year, Ontario greenhouse farms grow in excess of 520,000 tons of produce and are leading the world in resilient and sustainable vegetable production.
Matt Tatomir, Co-President of Betterment Harvest and Founder of JC Fresh and Orangeline, commented, “Our goal is to provide the absolute best-in-class produce through efficient operations with the least impact to our environment as possible. This is accomplished by our world-class progressive team, which ensures a positive employee experience and the collaboration of key thought partners. We couldn’t be more excited to partner with Land Betterment and the team to expand our business not only in Canada but also throughout the United States. We have had the opportunity to get to know each other for over a year and are confident that our unique skill sets bring incredible synergies to the business.”
Kirk Taylor, President and CFO of Land Betterment, added, “The partnership with Matt and his team provides the leadership and talent pool needed as we plan to expand on our existing sites, as well as expansion within South Western Ontario, Canada, Missouri, Indiana, Ohio, Kentucky and beyond. Creating sustainable outcomes for communities facing transition is the bedrock of each of our business pillars and this acquisition is a great example of our team’s ability to execute. We are excited to bring support to an extremely talented operational team and to help them grow the business, manage costs and eventually prepare for the Company’s public offering in the United States marketplace.“
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