AgriFORCE Formally Ends Efforts to Acquire Delphy Group BV
VANCOUVER, British Columbia, June 02, 2023 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-focused agtech company dedicated to advancing sustainable cultivation practices and food and plant products, today announced that it has formally ended its efforts to acquire Delphy Group BV., a leading Agriculture and Horticulture consulting firm based in the Netherlands.
- Based on these factors, a revised purchase price could not be agreed upon by the parties.
- Ingo Mueller, CEO of AgriFORCE commented, "Although we are disappointed to end our efforts to acquire the Delphy Group BV, it was the prudent decision following an extensive due diligence process.
- Importantly, we have a very rigorous process for conducting M&A, which we believe highlights our strict standards and discipline.
- We look forward to providing further updates as we advance these alternative transactions, which we believe will ultimately drive much greater value for our shareholders."