Village Farms International, Inc. (NASDAQ:VFF) Q1 2024 Earnings Call Transcript

So, but if it happens, we will look at those pathways and we will go forward. As far as acquisitions go, I think there’s a whole host. I mean, some of these acquisitions are sort of the darlings of the industry and the company’s been around. But you can look in the US market, not just first here or second. There’s a whole host of things, third tier companies. These companies have a lot of friends and family money now for six, seven years, they’re not going to be able to do an IPO. So I think there’s a lot of opportunity. The question is, where do you want to play? Where can you succeed? Where can you be profitable? So I think M and a strategy would play into our plan as much as ramping up our Texas locations and looking at opportunities where we can cultivate in other states.

We already have and worked on option A, B, and C for the US. And we’re very, we’re pretty clear on where we want to operate, at least initially, that we think we can win. I would never, probably not say never, but endorsing cultivation in the northern part of the United States for us is just not on the table. It won’t, in my opinion, our opinion, it won’t pencil long term. You just can’t get your cost of production quality where it needs to be. And that’s why I’ve said all along it’s still an experiment until there’s full, comprehensive legalization in the US. And, my final comment is we’ll find a way and we’ll make our own way. But we’ll be there.

Pablo Zuanic: That’s great color. Thank you.

Michael DeGiglio: And I didn’t make that up. That was from Hannibal. Yes, operator?

Operator: I will now turn the call back over to Michael DeGiglio for closing remarks. Please go ahead.

Michael DeGiglio: All right. Well, first and foremost, I want to thank the village farm team. For all the incredible hard work to drive these great results. We have such a motivated, great team. And one of the things is our team has been in place a while. That says something about our organization. People want to be here. They love what they do. And I think it shows in the products we produce. And without good people, no matter where your assets are, how good they are. You really don’t have a business. So heartfelt thanks to them. And with that, thank you for participating in today’s call. We look forward to getting back together in August for our second quarter results. With that we can conclude the call.

Operator: Ladies and gentlemen, that concludes today’s conference call. Thank you for joining. You may now disconnect.