Village Farms International Announces Strategic Partnership with Vanguard, Appoints Interim CEO

Reuters
17 May
Village Farms International Announces Strategic Partnership with Vanguard, Appoints Interim CEO

Village Farms International Inc. has announced a significant transaction involving the entry into a Framework Agreement with Vanguard Food GP LLC, Vanguard Food LP, and certain subsidiaries, along with Kennedy Lewis Capital Partners Master Fund II LP and Sweat Equities SPV LLC. Under this agreement, Village Farms will contribute assets from its produce business to Vanguard in exchange for $40 million and 37.9% equity ownership in Vanguard LP. The Initial Investors will contribute $55 million, receiving 62.1% equity. Additionally, Charlie Sweat has been appointed Chairman of Vanguard's Board, with Michael A. DeGiglio serving as Interim CEO. Village Farms will retain ownership of its Texas and Canada greenhouse facilities, entering a supply agreement with Vanguard for fresh produce. This strategic move aims to bolster Vanguard as an independent company while allowing Village Farms to maintain a significant role in its operations.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Village Farms International Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000950170-25-073686), on May 16, 2025, and is solely responsible for the information contained therein.

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