Vanguard completed the acquisition of Texas greenhouse assets of Village Farms for $40m.

Vanguard Food, a privately-held produce industry joint venture, completed the acquisition of Texas greenhouse assets of Village Farms Fresh, a fruit and vegetables cultivator, for $40m and a 37.9% stake in Vanguard. “I am pleased to announce this transformative transaction for Village Farms, and very proud to work with Charlie Sweat and the team at Sweat Equities to drastically improve long-term upside potential for our produce business. Charlie is a proven industry pioneer with an incredible track record building enterprises across the health and wellness food categories and creating value for shareholders. We believe this transaction will unlock tremendous long-term value for both our businesses, and are excited to gain committed new capital partners in produce and to focus more of our resources toward advancing our leadership position in global cannabis,” Michael A. DeGiglio, Village Farms CEO.