AgTech Mergers & Acquisitions

AgriFORCE Extends Closing Date for Acquisition of Berry People

AgriFORCE extends the closing date for the acquisition of Berry People, prioritizing sustainable cultivation and global growth.

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW), a leading AgTech company dedicated to advancing sustainable cultivation and crop processing, recently announced an extension to the closing date of its acquisition of Berry People, LLC. The extension will allow both parties more time to fulfill certain closing conditions, including the finalization of the Berry People audit. Despite the delay, AgriFORCE and Berry People remain fully committed to the transaction.

Berry People is an integrated and branded berry business with a growing global presence and a scalable platform model. The company aims to provide customers with a diverse range of high-quality berries year-round, organically and conventionally grown. In addition to its customer focus, Berry People strives to support its grower operators by offering competitive distribution at an increasing scale, access to licensed and developed intellectual property (IP), and necessary resources for building trustworthy and sustainable farm operations. 

AgriFORCE Growing Systems Ltd. is an agtech company focused on sustainable agricultural practices. The company is dedicated to solving urgent global challenges related to crop production and providing nutritious food to people worldwide. AgriFORCE aims to build an integrated agtech platform that incorporates cutting-edge technology, the best available IP, and extensive knowledge to drive positive change in the agricultural industry, from seed to table. AgriFORCE envisions becoming a global leader in delivering sustainable solutions for a more secure and nourishing food supply.

The decision to extend the closing date of the acquisition between AgriFORCE and Berry People reflects the commitment of both parties to ensure a smooth and successful transaction. By granting additional time for the necessary closing conditions, such as the audit of Berry People, the companies are taking a prudent approach to ensure all requirements are met before finalizing the acquisition.

This extension does not diminish the potential benefits of the acquisition for AgriFORCE. The addition of Berry People to AgriFORCE’s portfolio will enhance the company’s position in the berry market and strengthen its global footprint. With Berry People’s established brand, integrated supply chain, and emphasis on quality, AgriFORCE will be better equipped to meet the increasing demand for berries worldwide. As consumers increasingly seek environmentally friendly and healthier food options, this merger has the potential to provide a wider range of sustainable berry choices to meet the evolving preferences of customers.

AgriFORCE and Berry People recognize the importance of fostering trust and collaboration within the agricultural community. By providing grower operators with competitive distribution, access to licensed IP, and necessary resources, Berry People aims to support its partners in building successful and reliable farm operations. This inclusive approach not only benefits the grower-operators but also contributes to the overall strength and stability of the broader Berry People community.

While the extension of the closing date may delay the finalization of the acquisition, it also signifies the commitment of AgriFORCE and Berry People to ensure a well-prepared and successful integration. As the companies work towards completing the necessary closing conditions, the shared vision of providing sustainable and nutritious food remains at the forefront. The extended timeline allows for a comprehensive evaluation and verification process, ensuring that the acquisition will be a mutually beneficial endeavor for AgriFORCE and Berry People.

Image provided by Berry People

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