Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced the launch in Germany of cannabis products grown by its Canadian Cannabis business (wholly owned subsidiary, Pure Sunfarms). The German launch is in partnership with IUVO Therapeutics GmbH (“IUVO”), an importer, marketer and distributor of medical cannabis for the German market. IUVO expects Pure Sunfarms’ Pink Kush to be available to German patients in the coming days.
“Commencing cannabis product sales in Germany is another meaningful step forward in our international cannabis strategy,” said Michael DeGiglio, Chief Executive Office, Village Farms. “Robust consumer demand for our differentiated products, led by the same Pink Kush dried flower that will be available to German consumers, drove a ten-fold increase in Village Farms’ cannabis exports to Australia during 2022. Together with Australia and Israel, Germany adds a third international market where we have demonstrated our ability to respond to rigorous testing standards and deliver an exceptional product to medical consumers. Pursuing more profitable export opportunities is an important part of our growth strategy, while we continue to delight Canadian consumers with our consistent, high quality, British Columbia-grown flower.”
“The launch of Pure Sunfarms grown cannabis products in Germany – the largest market in Europe – means German patients will soon have access to one of Canada’s top brands, starting with the country’s number one selling dried flower product, our own Pink Kush1,” said Mandesh Dosanjh, President and CEO, Pure Sunfarms, “Originally offered in Canada in June 2020, Pure Sunfarms’ Pink Kush is a major contributor to Village Farms’ Canadian Cannabis business catapulting to the overall number two market share position nationally1.”
“We are excited to announce our partnership with Village Farms International,” said Jonathan Lubosch-Haenisch, CEO of IUVO. “Our commitment to delivering the highest value to our patient community means we are highly selective about our partners, and Pure Sunfarms was a natural choice. We are proud to bring their proven success from Canada to Germany, and to offer patients access to terpene-rich, sun-grown cannabis products at an exceptional price point.”
1. For the quarter ended December 31, 2022 and the months of January and February 2023. Based on estimated retail sales from HiFyre, other third parties and provincial boards.
