Save Foods Inc. becomes the largest shareholder in Plantif
Added on 05 October 2023
Save Foods Inc. (NASDAQ: SVFD) (FSE:80W), an agri-food tech company specializing in sustainable operations, announced its increased investment in Plantify Foods Inc. (TSXV: PTFY). Save Foods purchased an additional 55,004,349 common shares, bringing its total interest in Plantify to 85,008,698, or 23.13% of its issued and outstanding share capital.
A Strategic Investment
David Palach, CEO of Save Foods, expressed enthusiasm for the decision, stating that Plantify is a promising player in the food industry. “By reducing the use of pesticides and food waste, Save Foods contributes significantly to providing more sustainable and healthier produce, aligning perfectly with Plantify’s mission and core values,” said Palach.
Mutual Goals and Synergies
The investment aims to strengthen the potential synergies between the two companies. Palach was impressed by the quality of Plantify’s food and its dedicated management team. “The decision to strengthen our position in Plantify was based on our belief in Plantify’s management’s abilities to achieve their goals and continue to innovate clean-label foods,” he added.