Gulftech International™ and Verdant Technologies™ announce the consummation of Gulftech’s acquisition of Verdant. The anticipated transaction was reported earlier this month and closed on Friday, June 25. Verdant is in the early phase of its commercial launch into the ag tech industry servicing food and flora sectors with innovations in product life extension technology.
“At Gulftech, we proudly power the potential for our expanding family of companies, customers and industry we serve. The acquisition of Verdant Technologies is a great example of how we do this; by investing in new ag technologies that reduce waste and protect freshness,” said Steven Ferrell, Gulftech CEO. “We have a responsibility to build a more resilient, sustainable food system that positively and meaningfully impacts our planet. We look forward to our stewardship of impactful solutions and are committed to the journey.”
Verdant’s products are designed to target issues experienced throughout perishable supply chains. “We help solve grower, distributor and retailer challenges like supply chain inflexibilities and shrink, but we also help solve issues with the supply chain itself,” said Gordon Robertson, CEO Verdant Technologies. “Our technology and delivery method makes a product more robust, and robustness helps reduce wastage, lessen carbon footprint, and expand markets. We want to nourish the world and create more sustainable supply chains, and with Gulftech’s support, we are primed to make a substantial impact across the globe.”
Gulftech’s family of companies touch 90 percent of the world’s fresh produce, juices, nuts and tuna products and its footprint extends across 85 countries. The company’s existing infrastructure and broad reach offer a means for Verdant’s products to benefit a variety of customers around the world, and its financial backing will rapidly accelerate growth for the company. Verdant is in the process of scaling up operations in Mexico and building its US-based team, especially in sales and product management functions.
“Joining the group of companies led by Gulftech is a real boon to Verdant,” said Robertson. “Verdant is fully ready for a supporting company to provide the funding and operating platforms to accelerate our opportunities and continuous innovation. Our commonality of customers with the sister companies under the Gulftech’s umbrella will create synergies for all and enable Verdant to burst into the global markets on a grand scale.”
Terms of the agreement were not released.
For more information:
Jennifer Dahl
Gulftech
Tel: +1 (303) 592-4853
jennifer@gulftech.com
https://www.gulftech.com/
Gordon Robertson
Verdant Technologies
Tel: +1 (661) 487-2230
Gordon.Robertson@verdant-tech.com
Robert Nye
Verdant Technologies
Tel: +1 (651) 815-0312
Robert.Nye@verdant-tech.com
https://verdant-tech.com/