AgriFORCE Reflects On Achievements In 2021 As It Looks Forward To More In 2022

Photo: AgriFORCE Growing Systems Ltd. CEO Ingo Mueller

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AgriFORCE Growing Systems Ltd. AGRI believes in an integrated approach to agriculture technology (agtech) from seed to table. 

The company believes it’s what the world needs, and that it is more than ready to deliver it.

As an integrated agtech and intellectual property (IP)-focused company that aims to advance sustainable cultivation and crop processing across multiple verticals, AgriFORCE has looked to lay a solid foundation to be a significant player in the space. With a vision to be the world leader in delivering next generation foods and plant products, the company is driven to positively transform farms, food and family everywhere.

The company had a busy 2021 marked by their initial public offering (IPO) in July, followed by work and advancements.

Achievements in 2021

The company’s two key divisions are AgriFORCE Solutions and AgriFORCE Brands. The driving force behind AgriFORCE’s work over the years is its belief that issues can be addressed through an integrated approach. This defined method overcomes weaknesses and threats at their source rather than just addressing the symptoms. 

AgriFORCE Solutions aims to provide leading consulting services, facilities and agtech platforms that deliver sustainable, more efficient and healthier crops, while AgriFORCE Brands develops superior plant-based ingredients and products for businesses and consumers. 

Last September, the company signed a definitive agreement to acquire food production and processing intellectual property (IP) from Manna Nutritional Group LLC (MNG). 

“We are currently in the due diligence process of this acquisition and expect it to close in the coming months,” AgriFORCE CEO Ingo Mueller said.

The MNG IP is the foundation of AgriFORCE‘s Brands business, which will showcase products through a new consumer brand set to be unveiled this year. 

“Imagine being able to eat delicious food — like burger buns, muffins and other pastries that are high in nutrition and fiber and low in carbs and sugar — and have it taste as good, if not better than those baked with regular flour,” Mueller said. “This is done without adding or subtracting ingredients or genetically modifying the grain in any way. It uses what nature provided: the whole grain. This is a game-changing IP that will allow us to revolutionize the way people think about food.”

After putting this foundational piece for AgriFORCE Brands in place, the company turned its focus to supporting its disruptive solutions-based IP to bring class-leading know-how to complement and drive its technology stack.

AgriFORCE subsequently announced a binding letter of intent (LOI) to acquire a leading European agriculture/horticulture and agtech consulting firm with global operations, more than 200 employees, 2020 revenue of about $26 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $3 million.

The company expects to close on the acquisition in the first quarter of 2022 after working through the due diligence process.

“The plan, moving forward, is that we will aggressively expand the business into the U.S. and Canadian markets where we see significant opportunity to grow the footprint of the business and to propel cross-selling throughout our Solutions business,” Mueller said.

In December, AgriFORCE announced a definitive agreement with Humboldt Bliss in Barbados. The project represents a robust financial opportunity for AgriFORCE while also exploring additional prospects in Barbados and the Caribbean.

Continuous Growth Plan for 2022?

The company expects this growth trajectory to continue in 2022. It hopes to expand its facility contracts, target additional companies for acquisitions to further develop its platform/technology stack, and launch its consumer product brand and initial wheat-based products.

“We are excited about 2022 because, over the past year, we have seen so much of our vision come to life,” Mueller said. “We know that we will do even more in 2022, and we look forward to seeing how our achievements to date will open doors or even more exciting acquisitions, deals, and contracts.” 

AgriFORCE plans to continue to grow through mergers and acquisitions, which could give it a rising competitive push against other companies in the agtech space like Corteva Inc. CTVA, McCormick & Co. Inc. MKC, and Bunge Ltd. BG.

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