Village Farms sells produce business assets for $40M, forms JV with Kennedy Lewis

Village Farms International, Inc.

Base purchase price of $40M for sale of produce business assets to Vanguard entities; $5M escrow.
Joint venture will operate through Vanguard Food LP; VFF receives LP common units, investors get LP preferred units.
Investors: Kennedy Lewis Capital Partners and Sweat Equities SPV; agreement dated May 12, 2025.
Excluded business includes cannabis under Pure Sunfarms, Balanced Health Botanicals brands.
Closing subject to conditions; sellers provide reps on business, assets, contracts.

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