Vegalab provides business update on recently acquired M&G packing
Feb. 16, 2018
David Selakovic, CEO of Vegalab, Inc. stated, "With the acquisition of the M&G business, we sought to increase revenue and improve operational efficiencies. We believe we are off to a good start with citrus sales in the fourth quarter of 2017, despite officially taking over 17 days into the quarter. Our entire Vegalab produce team, led by Ryan Sweeney, has done a great job in a short amount of time. This is the slow time of year, so we expect our sales to increase in the next couple of quarters. Our focus is to accelerate the volume of fruit packed and the resulting sales."
Vegalab has worked to expand the capacity of its newly acquired facility. The Company has invested over $150,000 in repairs and expansion to increase capacity. The Company believes it has substantially increased the rate of packing and production for the facility, which will enable the Company to develop the opportunity to process and sell more produce. Cold storage space has been increased from 12,000 box capacity to 22,000 box capacity with the addition of a third cold storage room and additional racks for storage.
Ryan Sweeney, Vegalab's Director of Produce, remarked, "When we took over M&G Packing, we knew that expanding capacity was critical to increase sales. We have increased the pack line efficiency and cold storage, so we can handle about twice the fruit volume as before. Currently, the team is visiting navel orange growers to introduce them to Vegalab and our packing facility. They are excited to hear about the Company's offerings, and they have shown significant interest in our environmentally friendly products. We look forward to building strong relationships with growers and believe we can offer them better service and up to date information, while working to get them the best prices for their fruit."
About Vegalab, Inc.
Vegalab, Inc. is the exclusive distributor in North and South America of a line of all-natural, biologically derived pesticides, fertilizers, and specialty agricultural products. Vegalab's pesticides are highly effective against targeted organisms, non-toxic to beneficial organisms, and safe for the environment. Vegalab products support a healthy soil biome and are cost competitive with synthetic chemicals that do just the opposite.