AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) is an IP-focused agricultural technology (AgTech) company working hard to deliver intelligent and sustainable food solutions. Now the company is broadening its growing food portfolio through a binding letter of intent (LOI) to purchase Berry People LLC, a berry business with an increasingly international footprint and a scalable platform model.

The organic food industry is expected to jump to $294 billion globally in 2023, up from $259.06 in 2022. Concerns around genetically modified organism (GMO) farming have driven interest in organic solutions, as close to 200,000 people die from pesticide poisoning every year. Organic plant produce is also seeing popularity as an eco-friendly, sustainable way of growing and harvesting crops. 

AgriFORCE’s mission is to create an integrated approach to agriculture built on expertise and solid industry knowledge. It already has a developed AgTech platform that uses cutting-edge IP, technology, and knowledge to drive its strategy of getting healthier and more accessible produce from the farm to the kitchen. Acquiring Berry People – with its recognized brand and scalable platform model – is a key step in this approach. 

Now AgriFORCE will acquire 70% of Berry People for $18.2 million in cash plus another $9.8 million in restricted shares of AgriFORCE. The AgTech company already has a line of healthy foods in its Un(Think) Awakened flour line. AgriFORCE is setting a healthier standard with its Un(Think) brand, producing a more nutritious choice than traditional all-purpose white flour with five times the fiber, up to twice the protein, and 23% less net carbs.

The planned acquisition of Berry People will add to AgriFORCE’s growing portfolio of acquisitions, as the company finds new ways to expand its mission in 2023. Its previously announced planned acquisitions include Delphy, a European-based consulting company that added to AgriFORCE’s research and development (R&D) capabilities. It is also has announced planned acquisitions of Deroose Plants NV, a tissue and young plant biotech company, and food processing IP from Manna Nutritional Group (MNG).

Other companies in the natural foods industry include Bunge Limited (NYSE:BG), The Scotts Miracle-Gro Company (NYSE:SMG), Corteva, Inc. (NYSE:CTVA), and Nutrien Ltd (NYSE:NTR).