Michael DeGiglio, CEO, Village Farms
Scott Mlyn | CNBC
What started as a large vegetable greenhouse developed into a pot stock.
Village Farms has been growing crops like tomatoes, peppers and cucumbers under the tutelage of founder Michael DeGiglio for three decades. The company shifted into the marijuana business a year prior to Canada’s legalization in 2018.
“For us the switch to cannabis was just, really, another agricultural crop and in that regard we saw the transformation of our assets to a much more valuable crop from produce,” the CEO said in an interview with “Mad Money’s” Jim Cramer.
Through a couple of recent joint ventures, Village Farms made its foray into Canada’s legal cannabis market and the United State’s cannabidiol, known as CBD, market. The company formed a joint venture with Canadian marijuana grower Pure Sunfarms in 2017 and Nature Crisp to cultivate CBD products in Colorado.
Village Farms operates 200 acres of grow operations in the United States and Canada….