Gulftech Completes Verdant Acquisition
Gulftech International and Verdant Technologies recently announced the completion of Gulftech’s acquisition of Verdant. The transaction closed on June 25. Verdant is in the early phase of its commercial launch into the ag tech industry servicing food and floriculture sectors with its product life extension technology.
Gulftech CEO, Steven Ferrell commented, “At Gulftech, we are proudly powering the potential for our expanding family of companies, our customers, and the 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.”
Ferrell added, “We have a responsibility to build a more resilient, sustainable food system, one 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 proven technology and unique 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 Gufltech’s support, we are primed to make a substantial impact across the globe.”
Terms of the agreement were not released.