15.5.2007: Meldung: SunOpta Inc.: Acquisitions of Congeladora del Rio and Global Trading
TORONTO, Ontario-- May 15, 2007--SunOpta Inc. (SunOpta or the Company) today announced that it has completed the acquisitions of the net operating assets of Congeladora del Rio, S.A. de C.V. ("Del Rio"), and all of the outstanding shares of Global Trading Inc., ("Global"). The purchase prices consisted of cash paid on closing and notes payable.
Del Rio operates a fruit processing facility in Irapuato, Mexico. The high quality facility processes strawberries, peaches, mangos, bananas, pineapples, honeydew melons and other fruits, into individually-quick frozen, block frozen and purees for the food service, industrial and retail markets. Under the terms of the agreement, SunOpta purchased all of the net operating assets, including working capital, equipment, land and buildings in Irapuato.
Global, the U.S.-based marketing agent for Del Rio located in Greenville, South Carolina, markets 100% of the fruits processed at Del Rio. Global"s offices include executive management, sales, customer service and accounting support.
The combined Del Rio and Global operations have annualized revenues of approximately $11 million. The Company plans to expand Del Rio"s capacity and operations in the short term, consistent with its global supply chain expansion strategy.
The acquisitions of Del Rio and Global are highly synergistic to the SunOpta Fruit Group. In addition to complementing the Group"s strawberry supply chain, the transactions further vertically integrate the Group"s fruit supply chain and expand its core production capabilities. The Group will continue to purchase millions of pounds of various fruits from global processors to supply its private label retail, food service and industrial customers.
Sergio Varela, President of the SunOpta Fruit Group commented, "The acquisitions of Del Rio and Global Trading further enhance our ability to meet customer demand while maintaining control over the supply chain. These transactions reflect the execution of our global expansion strategy, which benefit our customers in ensuring consistent supply and quality, and a cost efficient supply chain."
Steve Bromley, President and Chief Executive Officer of SunOpta Inc. commented, "The acquisition of Del Rio and Global, in hand with our recent expansion announcements in Chile, Argentina and Mexico, reflect the execution of our global sourcing and supply strategy. We are extremely pleased with the strategic expansion of our international sourcing and processing capabilities."
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group (soon to become SunOpta BioProcess Inc.) which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.
CONTACT: SunOpta Inc.
Jeremy N. Kendall, Chairman
Steve Bromley, President & CEO
Joseph Riz, Executive Vice President
John Dietrich, Vice President & CFO
Susan Wiekenkamp, Information Officer
905-455-2528, ext 103
Investment Community Inquiries:
Lytham Partners, LLC
Joe Diaz, Robert Blum or Joe Dorame
SOURCE: SunOpta Inc.