CASTLE ROCK, CO — Where Food Comes From Inc. (d.b.a. IMI Global, Inc.) (OTCQB: WFCF), the largest independent verifier of food production practices in North America, is acquiring SureHarvest Inc.
The transaction expands and diversifies WFCF’s commodity reach with high-value specialty crops, including winegrapes, almonds, hazelnuts, strawberries, mushrooms, cut flowers, leafy greens and other fresh produce.
“SureHarvest has built a strong portfolio of solutions for the agri-food chain, and this deal takes us one step closer to being a one-stop-shop for growers who are facing increased pressures to streamline operations, and improve productivity, resource efficiency and profitability, while better meeting the needs of customers and consumers,” said John Saunders, chairman and CEO of WFCF. “Together, SureHarvest and Where Food Comes From bring even more industry knowledge, expertise and resources than either company on its own.”
Dr. Jeff Dlott, president and CEO of SureHarvest, says the deal also allows more growers to be able to tell their sustainability and production stories.
“Where Food Comes From and SureHarvest both operate from the premise that consumers want and will continue to demand information about where food comes from, how food is grown and by whom,” said Dlott. “In addition, both aim to create a smarter, more transparent food system by using technology to create greater connectivity between suppliers, buyers and consumers.
“We also believe producers, packers, distributors and retailers can be better managers of natural resources and even achieve competitive differentiation through verification and traceability initiatives. Through this new deal, we can help even more agri-food suppliers tell their stories.”
SureHarvest employs a range of sustainability and farming Management Information Systems (MIS) solutions, certification, compliance management and professional services including its flagship Sustainability Management Information System.
SureHarvest also brings five issued patents, eight 2016 patent allowances and three pending applications that provide broad coverage in the field of where food comes from and how it is produced including devices, methods, and systems to capture farm level data, record chain of custody (traceability) and automatically certify and/or communicate agricultural production and/or product information to consumers. The company has identified more than 240 potential licensees in the agriculture industry for these patented devices, methods, and systems.
SureHarvest, which is based in Soquel, Calif. and also has offices in Modesto, Calif., has eight full-time employees, who will continue to operate from their current locations. The company was founded in 1999 to invent and commercialize sustainable performance management and farm information systems to add value to farmers. Since then, it has pioneered the design of sustainable performance systems to measure and monitor the impact of farming on natural and human resources in the specialty crop space.
“Food producers from beef to almonds to wine grapes are challenged to meet ever higher standards of stewardship in managing natural resources in support of their supply chains, operations and corporate responsibility initiatives. Together, SureHarvest and WFCF can further provide much-needed solutions,” said Leann Saunders, WFCF president.
About Where Food Comes From, Inc.
Where Food Comes From, Inc. (d.b.a. IMI Global) is America’s trusted resource for third party verification of food production practices. The Company supports more than 12,000 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations and restaurants with a wide variety of value-added services through its IMI Global, International Certification Services, Validus Verification Services, SureHarvest and Sterling Solutions units. In addition, the Company’s Where Food Comes From® retail and restaurant labeling program utilizes the verification of product attributes to connect consumers to the sources of the food they purchase through product labeling and web-based information sharing and education. Visit www.wherefoodcomesfrom.com for additional information.
About SureHarvest
SureHarvest is a sustainability solutions company that delivers practical strategies, proven technologies and exceptional services to the agri-food value chain. The Company’s solutions accelerate financial profitability, environmental stewardship and social progress. The Company’s services are often coupled with farm management and sustainability program management software technologies to provide turnkey solutions. Its SMIS solution supports more than 2,200 agri-food operations managing upwards of 450,000 acres of winegrapes, almonds, hazelnuts, mushrooms, cut flowers, leafy greens and other fresh produce, and more than 65% of the wine produced in California. Its customers include such leaders in the field of sustainability as the Almond Board of California, California Sustainable Winegrowing Alliance, PRO*ACT, the Mushroom Council, the Oregon Hazelnut Marketing Board, Protected Harvest, California Cut Flower Commission, and Washington Association of Wine Grape Growers. For more information, go to www.sureharvest.com.
CAUTIONARY STATEMENT
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company’s predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership and the ability to continue providing solutions and be a one-stop-shop for growers; the ability to create a smarter, more transparent food system; expected synergies of WFCF and SureHarvest; the ability to help suppliers tell their stories; the ability to help customers be better managers of natural resources and achieve competitive differentiation through verification and traceability initiatives; and demand for, and impact and efficacy of, the Company’s products and services on the marketplace, are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for food commodities mentioned in this document; and other factors. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company’s business, please refer to the Company’s SEC filings at www.sec.gov.
Source: SureHarvest
