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PBFI : Patriot Berry Farms : Provides Update on the Sale of Initial Harvest to Dole Berry Company LLC.

05/12/2014 | 10:54am US/Eastern

ORLANDO, FL--(Marketwired - May 12, 2014) - Morningstar Farm of Patriot Berry Farms Inc. (OTCQB: PBFI) (herein after "Patriot Berry", and/or "the Company") is pleased to announce that it continues to sell all crops harvested to Dole Berry Company LLC. ("Dole"), a subsidiary of Dole Food Company Inc., the world's largest marketer of high-quality fresh fruit and vegetables. In a move which signifies growth, Patriot Berry also introduces its key senior advisory and management professionals, who each have specific roles aimed at driving Patriot Berry's goal of becoming a major operator within America's Berry market.

Morningstar Farm to Supply Dole Berry Company LLC.

Patriot Berry's Morningstar Farm will be supplying Dole for the next five consecutive years. The farm is looking to yield between 30,000 - 35,000 pounds a year over coming years. The contract with Dole is valid from January 1, 2014 and ending on December 31, 2018 with Patriot Berry Farms Inc. receiving payment 35 days after the final shipment.

As part of the agreement, Dole will endeavor to obtain the best market price available for the type and quality of blueberries delivered. Agreement listed as exhibit in recent PBFI 8-K.

With the prices of 2014's fresh blueberry crop looking poised to be highly profitable and more lucrative when compared to previous years, Patriot Berry's Florida based Morningstar Farm will have an advantage over other producers, since their berries will be hitting the market earlier in the season than many competitors.

Growing early-ripening blueberries has been profitable in Florida due to the excellent market for fresh blueberries that ripen before May 20th; Florida blueberries are the first to ripen in North America.

Between April 1 and May 10, Florida growers almost exclusively meet market demand. In turn, prices are relatively high until mid-May when Georgia and North Carolina blueberry harvests begin.

The Patriot Berry farm further benefits from an ideal location in North Central Florida that allows for blueberry harvesting and delivery to market before other Florida regions.

As a result, Patriot Berry is able to exercise greater control over establishing market price while realizing roughly $2.00 more per pound on average than Georgia and South Carolina markets.

Currently the 2014 harvest is now underway -- progress can be viewed on the Morningstar Farm Harvest Album.

Daniel Cattlin, CEO, Patriot Berry Farms Inc. says: "We are extremely pleased to be working with Dole Berry Company LLC, a subsidiary of the world's largest distributor of fresh fruit and vegetables, Dole Food Company Inc. Not only is it a prestigious and well established company, but their expertise and knowledge of the market will be welcomed and well received by our staff as we continue to strive forward in the dynamic roll out of our farm acquisition model."

The harvest has already begun, and given the current profitability of this year's crop, we are set for further prosperity in the burgeoning global berry market."

Introductions to Senior Advisors and Management:

The company also wishes to provide further detailed information on each of the four key senior advisory and management professionals that each brings with them a wealth of expertise and knowledge:

- Mr. Anthony DiMeo III, Director of Farming for Patriot Berry Farms - DiMeo brings a lifetime of blueberry growing experience to the team, having grown up on his family's large blueberry farm in the "blueberry capital of the world" Hammonton, New Jersey. His experience of old-fashioned blueberry farming techniques has helped him develop competencies in many areas, including planting, harvesting and the cultivation of hundreds of acres of blueberries. DiMeo provides consulting services to the Company which includes: identifying new farms; advising the Company regarding new farm purchases; participating in negotiations; developing berry distribution; and helping improve the Company's operations.

- Dr. Bernadine Strik, Evaluation and Management Consultant - Bernadine has over 30 years of experience in berry crops (particularly blueberry, blackberry, and raspberry) and is world renowned for her expertise. She has worked for many companies/farms in her time. Her areas of focus include: planting establishment, development and management of production systems (thus improving economic yields and quality), sustainable and organic production systems, plant fertility, and assessment and troubleshooting of production problems.

- Mr Doug Harmon, Patriot Berry Farm Manager - Harmon is as significant a figure to the success of Patriot Berry as other members of the team. He already supervises and runs Patriot Berry Farm's, Morningstar Farm and has done so for several years. He has an undeniable experience of the land and its crop.

Daniel Cattlin, CEO, Patriot Berry Farms Inc. says: "Patriot Berry is at an important stage in its development. I am subsequently thrilled to be working alongside these three experts; I view them as key advisory consultants and welcome any advice and guidance they can share. With the overall aim to maximize our market position and build on our berry farm portfolio, we are set to build strong shareholder value for our investors. Patriot Berry has a bright future."

About Patriot Berry Farms

Patriot Berry Farms, Inc. is an independent American Berry company focused on the acquisition and operation of established and profitable Berry farms throughout the United States of America.

The Company targets America's Berry market, with a main focus on blueberry production and a secondary focus on strawberry and raspberry production. Building on the tradition of America's homegrown farming successes, Patriot Berry Farms is committed to providing healthy produce of the highest standards to the nation's family homes. The Company's management team is currently drawing on its industry experience and the expertise of industry consultants to establish Patriot Berry Farms as a significant operator within the nation's growing Berry market.

About Dole Food Company Inc.

  • With subsidiaries in 90 countries Dole employs, 36,000 full-time, regular employees and 23,000 full-time seasonal or temporary employees, worldwide.
  • Dole Food Company: Dole was founded in Hawaii in 1851
  • In 2010, Dole Food Company's turnover amounted to $6.9 billion, and is the world's largest producer and marketer of high-quality fresh fruit and vegetables.
  • Dole markets a growing line of packaged and frozen foods, and is a produce industry leader in nutrition education and research.

This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Patriot Berry Farms, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Patriot Berry Farms, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Patriot Berry Farms, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward looking statements included in this release. Patriot Berry Farms, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.


© Marketwired 2014
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