SunOpta Inc.(Nasdaq:STKL; TSX:SOY) has reached an agreement to acquire the assets and business of Earthwise Processors LLC, of Moorhead, Minnesota.
Earthwise has annual revenues in excess of $10 million dollars and is a vertically integrated producer of organic and identity preserved non-genetically modified grains, primarily focused on soy.
This acquisition provides SunOpta with an expanded and diversified grower base, expansion of soy product offerings, and others such as, organic flax and organic wheat, plus operating synergies. SunOpta is targeting to close this transaction at the end of May.
Steve Bromley, President and COO of SunOpta Inc., commented that “We know this business model well, have many of the same customers and operations will be easily consolidated within our existing grain operations.”
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. For the last seven consecutive years, SunOpta was included in Profit magazine’s ‘Profit 100’ list of the 100 fastest growing companies in Canada.
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