Sadot Group Inc. Announces New Trading Arm - Sadot Canada Inc.
Sadot Group launches its North American Origination and Trading Operations
Sadot Canada expected to establish new products and markets for Sadot Group's trading arm with a focus on potentially higher margin categories such as pulses
FORT WORTH, TX / ACCESSWIRE / July 9, 2024 / Sadot Group Inc. (NASDAQ:SDOT) ("Sadot" or the "Company"), announced today the formation of its latest commodity trading arm, Sadot Canada Inc. ("Sadot Canada"). Sadot Canada, a wholly owned subsidiary of Sadot LLC based in Toronto, Canada will originate and trade Canadian grains, oilseeds and pulses to customers worldwide.
Canada is one of the world's most important agri-commodity geographies, exporting over 75% of its agri-commodity production. Canada is a major producer and exporter of grains such as wheat and barley, oilseeds like canola and is one of the dominant export markets for key pulses crops such as peas, lentils, beans and chickpeas.
In 2021, Cananda harvested 8.8 million acres of pulses, which contributed to $6.3 billion to the economy and 25,907 jobs. Canada exports 80% of its pulses with 74% of pea production and 81% of lentil production going to other markets.
Sadot Canada initially plans to focus on two lines of business - container-based pulses exported from Canada to global customers, and animal feed ingredient blends sourced globally and imported to North and South American customers. In parallel to implementing these two business lines, the Sadot Canada team is working with Sadot's other international teams to create synergistic cooperation, such as sourcing pulses in the Black Sea region for global trade.
Michael Roper, CEO of Sadot, commented, "The expansion into Canada is significant and aligns with our strategic vision to continue growing our global agri-commodity trading operations and diversifying our product lines. By establishing our presence in yet another major agri-commodity market, we are poised to enhance our capabilities and drive substantial growth for the company."
Sadot Canada will be managed by a team of seasoned industry professionals, with over two decades of experience in the Canadian market as high-ranking executives in multi-national companies. With additional professionals on deck to join the team, a formal introduction of the team will be announced in the near future.
"The establishment of Sadot Canada marks an important step in our path to becoming a significant player in the global Agri-Commodity market," commented Benjamin Petel, Sadot LLC's Managing Member Representative and Sadot Board member. "My professional acquaintance with many of the proposed Canadian team goes far back, and I'm very excited to have them on board. The team brings fresh knowledge and diversity and is expected to increase our capabilities in North America and globally."
The establishment of Sadot Canada is the latest development in a line of recent actions all targeted at continuing the Company's strategy of product, geographical, and financial diversification throughout the food supply chain. Sadot continues to implement this strategy by developing its global origination and trading teams, farm assets, and expanding into additional agri-commodity supply chain verticals.
About Sadot Group Inc.
Sadot Group Inc. has rapidly established itself as an emerging player in the global food supply chain. Sadot Group provides innovative and sustainable supply chain solutions that address the world's growing food security challenges.
Sadot Group currently operates within key verticals of the global food supply chain including global agri-commodity origination and trading operations for food/feed products such as soybean meal, wheat and corn, and farm operations producing grains and tree crops in Southern Africa.
Sadot Group connects producers and consumers across the globe, sourcing agri-commodity products from producing geographies such as the Americas, Africa and the Black Sea and delivering to markets in Southeast Asia, China and the Middle East/North Africa region.
Sadot Group is headquartered in Ft. Worth, Texas with subsidiary operations in Miami, Dubai, Sao Paulo, Singapore, Kyiv, Toronto and Zambia. For more information, please visit www.sadotgroupinc.com.
For additional updates, news and general knowledge related to the global Agri-commodity supply-chain, please visit our website at: www.sadotgroupinc.com and our social media postings on Facebook and X (Twitter)
Forward-Looking Statements
This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Sadot Group, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.
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SOURCE: Sadot Group Inc.
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