Village Farms, Vanguard Food close transaction to create produce industry JV

Vanguard Food LP, a privately-held produce industry joint venture between Kennedy Lewis Investment Management, Sweat Equities, and Village Farms (VFF) International, announced the closing of a transaction which created a new, emerging leader in the North American produce industry. The previously-announced transaction privatized certain assets and operations of Village Farms International’s fresh produce segment, leveraging decades of leadership in the cultivation, sales, marketing and distribution of produce with the intention of creating a premier branded CPG foods company supporting healthy lifestyles and sustainable farming practices. The Parties expect to support Vanguard with additional capital resources to execute a roll-up strategy of other North American produce brands and assets, and plan to expand product categories and offerings for customers through M&A.