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Village Farms International Ups Stake in Rose LifeScience

It bought an additional 10% from the company's CEO and COO.

I Stock 1323047510
iStock/Baramee Temboonkiat

Village Farms International said it has increased its ownership of Quebec-based Rose LifeScience by 10% to hold an 80% interest.

“Village Farms’ initial 70% acquisition of Rose stands out as one of the most complementary business combinations to date in the Canadian cannabis industry. Since late 2021, the combination of the experienced teams at Rose and Pure Sunfarms have driven Village Farms into the number two share rank nationally as Rose sales grew more than 300% to reach the number two share rank in Quebec, with each closing the gap to number one,” said Village Farms CEO Michael DeGiglio.

"We have the opportunity to further grow our business as part of Village Farms, while continuing to focus on and support our home market in Quebec,” said Rose CEO Davide Zaffino.

The additional 10% of Rose was purchased from Zaffino and Rose co-founder and Chief Operating Officer, Brian Stevenson. Each will continue in their current roles and, together, continue to own 20% of Rose.

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