Village Farms International, Inc. (“Village Farms”) (NASDAQ: VFF) today announced it has ranked as one of the fastest growing companies in the Americas by The Financial Times and Statista for the second consecutive year. Village Farms ranked 1st among cannabis companies, 10th within agriculture, forestry and fishing companies, 32nd among Canadian companies and 355th overall, up 72 spots from last year. The 2024 Americas’ Fastest Growing Companies list ranks the top 500 companies by revenue growth between the years 2019 and 2022.
“Taking the top spot as a cannabis company on this prestigious list continues the validation of our business strategy: leveraging our deep expertise in controlled environmental agriculture to capitalize on the global cannabis opportunity,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms. “In under five years, we have grown our Canadian cannabis business from startup to a top-ranked profitable operator. We’ll continue to maintain our leadership in agriculture and aggressively build out our cannabis strategy internationally in the years to come.”
To be included in the The Americas’ Fastest Growing Companies ranking, companies must have:
Revenue of at least US$100,000 generated in 2019;
Revenue of at least US$1.5 million generated in 2022;
Be independent (the company is not a subsidiary or branch office of any kind);
Be headquartered in one of 20 American countries; and,
Revenue growth between 2019 and 2022 that was primarily organic (i.e. “internally” achieved).
About Village Farms International
Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and new high-growth opportunities in the cannabis and CBD categories in North America, the Netherlands and selected markets internationally.
The Company's wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada’s best-selling brands. The Company also owns 70% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec. Village Farms ranks as the #2 producer nationally in Canada.
In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms' cannabis success in Canada.
Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential, with an initial focus on the Asia-Pacific region and Europe. In the Netherlands, it is the only North American producer to hold one of ten cannabis licenses in this limited license country.
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