- Save Foods Inc. acquires an additional 55,004,349 common shares of Plantify Foods Inc., increasing its stake to 23.13% of the issued and outstanding share capital.
- The investment aligns with both companies’ focus on sustainable food production and reducing the use of pesticides.
- Save Foods CEO David Palach expresses confidence in Plantify’s management and its mission to innovate clean-label foods.
- Plantify Foods is actively expanding its footprint across Europe and North America.
- The partnership aims to create value for stockholders and contribute to a more sustainable food sector.
Save Foods Inc. (NASDAQ: SVFD) (FSE:80W), an agri-food tech company specializing in sustainable operations, announced its increased investment in Plantify Foods Inc. (TSXV: PTFY). Save Foods purchased an additional 55,004,349 common shares, bringing its total interest in Plantify to 85,008,698, or 23.13% of its issued and outstanding share capital.
A Strategic Investment
David Palach, CEO of Save Foods, expressed enthusiasm for the decision, stating that Plantify is a promising player in the food industry. “By reducing the use of pesticides and food waste, Save Foods contributes significantly to providing more sustainable and healthier produce, aligning perfectly with Plantify’s mission and core values,” said Palach.
Mutual Goals and Synergies
The investment aims to strengthen the potential synergies between the two companies. Palach was impressed by the quality of Plantify’s food and its dedicated management team. “The decision to strengthen our position in Plantify was based on our belief in Plantify’s management’s abilities to achieve their goals and continue to innovate clean-label foods,” he added.
Expanding Global Footprint
Plantify Foods is expanding its product range in Israel and aims to increase its footprint across Europe and North America. The company offers a wide range of clean-label healthy food options that are nutritious, gluten-free, non-allergenic, and easy to prepare.
A Partnership for a Sustainable Future
Plantify’s new CEO, Suzette Ramcharan, commented on the partnership: “We are very pleased with the continued support and encouragement from Save Foods. We are grateful to have Save Foods as a strategic partner and look forward to providing updates on our growth initiatives.”