One Earth Farms acquires Beretta Farms Inc.

CNW Group
Tuesday, 19 February 2013
By CNW Group

Feb. 19, 2013, Toronto, ON - One Earth Farms Corp., a subsidiary of Sprott Resource Corp. (SRC) has acquired Toronto based Beretta Farms Inc., a purveyor of hormone free and antibiotic free natural and organic branded meat products in Ontario and British Columbia, in consideration for cash and shares in One Earth Farms.

Beretta Farms was founded 20 years ago by Mike and Cynthia Beretta who, together with Elvio DelZotto their partner for the last 10 years, have grown the Beretta natural and organic product range into a market leading brand of fresh beef, poultry, deli products and meal solutions in the greater Toronto and Vancouver markets. Beretta Farms products are available to consumers through selected national grocery chains, leading natural and organic retailers, direct home delivery, and a specialty catering operation that provides meals to professional athletes and corporate clients based around the Beretta product line. In connection with the transaction, Mike Beretta will join the executive committee of One Earth Farms as the Chief Operating Officer.

Commenting on the transaction, CEO for One Earth Farms, Larry Ruud said, "I am pleased to welcome Beretta Farms to the One Earth Farms family. Mike and Cynthia Beretta are market visionaries with a passion for farming and the marketing of natural and organic meat products. The Beretta Farms supply chain and consumer brands perfectly complement the One Earth Farms source of beef from our more than 17,000 animal herd of top quality natural and organic cattle. With Mike and Cynthia remaining actively involved in the day to day operation of the business, this combination gives One Earth Farms an integrated business model and broadens our reach from the farm to the end consumer where there is increasing interest in naturally raised meats, food traceability and best practices in animal care."

Mike Beretta added, "Cynthia and I are delighted that we can continue the growth and evolution of our business through this partnership with One Earth Farms. The fit between the Beretta brand, our customer base of prestigious retailers and the organic and natural cattle supply of One Earth Farms make this joint entity an ideal platform for growth."

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