SAN DIEGO, CA, Dec. 08, 2017 (GLOBE NEWSWIRE) -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), www.ProGreenUS.com, Twitter @ProGreenUS; ProGreen is pleased to announce that an agreement has been executed to supply chili peppers to Huy Fong Foods, Inc. (Huy Fong), maker of the original Sriracha Hot Sauce - also commonly known as "Rooster" sauce. Chili peppers grown and harvested by the ProGreen Farms™ operation at Rancho Arenoso will be delivered to Huy Fong's plant in Irwindale, California.
Under the agreement, ProGreen Farms US, LLC, ProGreen's U.S. will supply a specified minimum quantity of chili peppers to Huy Fong in 2018 for an aggregate value of $1,200,000, with no maximum limit. The upper limit on sales that can be realized through this agreement will be determined by the growing and output capacity of the farming operations in Baja California.
ProGreen Farms™ operations in Baja California have been working on plans for increasing capacity at the Arenoso farm substantially, and have already taken some of the initial steps.
"This is a big step forward for ProGreen Farms, and we are very pleased to have Huy Fong Foods as a customer," said Jan Telander, CEO of ProGreen. "On visiting Huy Fong's offices, I was very impressed with the management, the plant, and their operations. This agreement that we have now executed marks the beginning of a relationship with a world class producer for U.S. and international markets, with nearly unlimited demand for our product."
"We look forward to working with ProGreen Farms, especially considering the access to land they have available for expansion, " said Donna Lam, Executive Operations Officer for Huy Fong Foods, Inc.
About Huy Fong Foods, Inc.
Huy Fong Foods, Inc., http://www.huyfong.com, with headquarters and 650,000 sf processing plant in Irwindale, California, is the maker of the original Sriracha Hot Sauce. The company's products include Sriracha, Sambal Oelek, and Chili Garlic Hot Sauce. Huy Fong Foods was founded by David Tran in 1980, moved to Rosemead, CA in 1986, and just 2 years ago moved to its new home in Irwindale, CA.
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About ProGreen US, Inc.
ProGreen US, Inc., www.ProGreenUS.com, based in San Diego, California, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,000 acres of land with 4.5 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
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