Land Betterment’s Agricultural Division Acquires 50% Ownership Interest in Canadian Greenhouse Operations
The acquisition of JC Fresh Farms and Orangeline Farms provides a platform for organic and acquisition based growth through integration of supply chain, customer contracts and land access within the United States
FISHERS, Ind., January 25, 2023 /3BL Media/ - Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining and industrial sites to create sustainable community development and job creation, today announced that its subsidiary, Betterment Harvest, has successfully closed on 50% ownership interests in two world-class operational greenhouse companies, JC Fresh Farms Ltd. (“JC Fresh”) and Orangeline Farms Ltd. (“Orangeline”) anchored by 65-acres of state-of-the-art, controlled environment growing facilities based in Ontario, Canada.
Canada boasts one of the most robust greenhouse produce sectors in the world. Ontario alone has one of the highest concentration of greenhouse facilities and ag-tech professional talent. This region consists of over 200 greenhouse farms growing a variety of produce on over 3,000 acres. These high-tech growing methods can yield up to 20 times more product per acre and utilize less water and less inputs than traditional farming methods. Every year, Ontario greenhouse farms grow in excess of 520,000 tons of produce and are leading the world in resilient and sustainable vegetable production.
Matt Tatomir, Co-President of Betterment Harvest and Founder of JC Fresh and Orangeline, commented, “Our goal is to provide the absolute best-in-class produce through efficient operations with the least impact to our environment as possible. This is accomplished by our world-class progressive team, who ensures a positive employee experience and the collaboration of key thought partners. We couldn’t be more excited to partner with Land Betterment and the team to expand our business not only in Canada but also throughout the United States. We have had the opportunity to get to know each other for over a year and are confident that our unique skill sets bring incredible synergies to the business.”
Kirk Taylor, President and CFO of Land Betterment added, “The partnership with Matt and his team provides the leadership and talent pool needed as we plan to expand on our existing sites, as well as expansion within South Western Ontario, Canada, Missouri, Indiana, Ohio, Kentucky and beyond. Creating sustainable outcomes for communities facing transition is the bedrock of each of our business pillars and this acquisition is a great example of our team’s ability to execute. We are excited to bring support to an extremely talented operational team and to help them grow the business, manage costs and eventually prepare for the Company’s public offering in the United States marketplace.“
JC Fresh Farms Limited
JC Fresh Farms Limited property comprises of 33-acres of hi-tech double poly greenhouses with the ability to expand operations by an additional 15 acres of high-tech diffused glass. The facility is located in Kingsville Ontario, Canada and is currently in production with a focus in the exclusive specialty tomato class.
Orangeline Farms Limited
Orangeline Farms Limited is comprised of two agriculture sites. The first being an improved 52.2-acres consisting of 20-acres of hi-tech, double poly greenhouses and an additional 12-acre hi-tech, glass facility. The site is located in Leamington Ontario, Canada. The facility is currently in production with a focus on the exclusive pepper market, consisting of bell and snacking peppers. The site also has additional acerage which can be utilized to further expand the facility by 48 acres of hi-tech diffused glass.
The JC Fresh and Orangeline Farm sites yield a synthesized, collaborative, best-in-class team specializing in a high-yield, low-cost production output. The facilities also leverage advanced growing technology enabling yields of 10-12 times greater than traditional farming methods. Their hydroponic growing system, along with the use of advanced LED lighting, facilitates consistent, year-round production of high-margin produce. In addition, their top-quality produce is packaged within highly-automated packing facilities encompassing more than 100,000 square feet. These advanced growing methods and packing facilities ensure that only their high-yielding, best-in-quality produce make it onto retailers' shelves and into consumers’ homes.
Both JC Fresh and Orangeline Farms have extensive partner agreements with some of the largest marketers and distributors in the world. Their products can be found throughout North America within some of the largest retailers, including, but not limited to, Wal-Mart, Costco, and Loblaws.
Betterment Harvest, a Land Betterment company, is a leading controlled environment agriculture (CEA) company with a highly scalable model and the off-take agreements to support its growth plan. This strategic acquisition expands Betterment Harvest’s footprint. Previously in 2021, Betterment Harvest announced its purchase of the former Willard Elementary School in Perry County Kentucky with the goal of turning it into a vertical farming operation with a focus on plant propagation. To learn more, visit bettermentharvest.com.
Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook, Twitter, and LinkedIn
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This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond Land Betterment Corporation’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
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Source: Land Betterment Corporation