Organto Expands Its Geographic Footprint With The Leading E-Grocer In The Czech Republic
VANCOUVER, BC and BREDA, NETHERLANDS / ACCESSWIRE / October 3, 2022 / Organto Foods Inc. (TSXV:OGO)(OTC:OGOFF)(FSE:OGF) ("Organto" or "the Company"), a leading provider of organic and value-added organic fruit and vegetable products, today announced that it has partnered with Central Europe's leader in e-grocery, to provide "I AM Organic" branded products and private label products for sale, initially in the Czech Republic.
- Founded in 2014, Central Europe's longest established online retail grocer - currently operates in 4 countries and expanding into 3 new countries in 2022.
- Serviced 10 million orders to over 1 million customers in 2021.
- Currently garners a 70% market share of online grocery revenues in the Czech Republic.
- Organto to initially provide:
- "I AM Organic" branded assortment of fruits, vegetables, root products, herbs, and mushrooms.
- Private label banana, mango, avocado, lemon, lime, and asparagus.
- The initial launch commenced last week in the Prague area, with a targeted roll-out to the full Czech Republic over the next year.
Rients van der Wal, Co-CEO of Organto Foods Inc., and CEO of Organto Europe B.V. commented "We have grown our business and successfully launched our "I AM Organic®" brand in the Online Delivery category utilizing our proprietary digital passport technology. We feel that partnering with this highly respected Central European retail leader in e-grocery will allow us to further build on our mission of making organic fruits and vegetables available for every consumer, and in doing so, build our "I AM Organic" brand. The demand for sustainable and transparent fresh organic fruits and vegetables continues to grow rapidly, and we are excited to continue building our business in this fast-growing category. By providing both branded and private label products, Organto will help this online grocery delivery innovator focus on and build out its organic fresh category."
"This new retail listing leverages the strengths of both our companies in servicing today's consumers whom we believe are demanding high-quality, convenient products with a transparent and engaging story. This retailer's unique customer experience is a combination of fast delivery, a large assortment, and great value for the consumers' money. Orders are delivered within 90 minutes by electrically powered delivery vehicles or within 15-minute same-day time windows at pick-up points, with over 17,000 items to choose from and prices in line with brick-and-mortar competition. Just like Organto, our partner is focusing on meeting the world's demands for healthy, sustainable food and making our customers' lives healthier and happier. We share a common objective of making great-tasting, high-quality food easily accessible through an innovative, engaging experience, while supporting the needs of a changing planet and its people. We share a common belief in our sustainability ambitions of respecting the environment, focusing on CO2 reduction, sustainable sourcing, and optimizing packaging to reduce food waste." commented van der Wal.
Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products serving the growing global demand for healthy and socially responsible foods. Organto operates a strategic, flexible, and cost-efficient asset-light business model, sourcing products from five continents, and using its certification, supply chain, marketing, and distribution expertise to bring products to market in eighteen countries in Europe. Organto has realized, currency-adjusted, twelve consecutive quarters of record revenue growth versus the same quarter of the prior year. Organto's long-term growth strategy is to build a differentiated ethics-driven "one-stop-shop" in value-added fresh organic and specialty fruit and vegetable products fueled by a combination of strong internal growth and acquisitions.
ON BEHALF OF ORGANTO FOODS INC.,
Chair and Co-Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Organto is an integrated provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-light business model to serve a growing socially responsible and health-conscious consumer around the globe. Organto's business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders.
FORWARD LOOKING STATEMENTS
This news release may include certain forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation, this news release contains forward-looking statements respecting Organto's business model and markets; Organto's vision of being a leading global provider of fresh organic fruits and vegetables utilizing an integrated asset light business model; Organto's belief that partnering with a large Central-European online retail delivery company will further Organto's mission of making organic fruits and vegetables available for every consumer, and in doing so build the "I AM Organic" brand; Organto's belief that partnering with this online retail delivery company leverages the strengths of both companies. Organto's belief that its story is well communicated through its digital product passports; management's beliefs, assumptions, and expectations; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about the following: the ability and time frame within which Organto's business model will be implemented and product supply will be increased; cost increases; dependence on suppliers, partners, and contractual counter-parties; changes in the business or prospects of Organto; unforeseen circumstances; risks associated with the organic produce business generally, including inclement weather, unfavorable growing conditions, low crop yields, variations in crop quality, spoilage, import and export laws, and similar risks; transportation costs and risks; general business and economic conditions; and ongoing relations with distributors, customers, employees, suppliers, consultants, contractors, and partners. The foregoing list is not exhaustive and Organto undertakes no obligation to update any of the foregoing except as required by law.
SOURCE: Organto Foods Inc.