SunOpta, Inc. (Nasdaq:STKL; TSX:SOY) has entered into an exclusive licensing arrangement with Mikro-Technik GmbH & Co. KG of Burgstadt, Germany (Mikro-Technik) for the sales, marketing and distribution of Mikro-Technik’s wheat and bamboo fibers, and its powdered cellulose products in North America. These products, which are complementary to the current fiber portfolio of the SunOpta Ingredients Group, will be marketed under the SunOpta brand name.
Art McEvily, President of SunOpta Ingredients commented that “The agreement between SunOpta Ingredients and Mikro-Technik is a strong step forward in meeting two important strategic goals: the diversification of our fiber portfolio, with varieties other than oat; and increasing the Company’s presence in the international arena. We look forward to working closely with Mikro-Technik to drive sales of these unique, functional fibers in the North American food industry.”
Christian Bumm, Managing Director of Mikro-Technik commented: “We are pleased to have established this commercial relationship with SunOpta Ingredients. The collaborative effort will enable Mikro-Technik to expand in the food market while allowing us to remain focused on our core fiber development and manufacturing competencies.”
The SunOpta Ingredients Group, an operating unit within the SunOpta Food Group, is a supplier of value-added, healthful ingredients to the global food industry with a core focus on edible fiber products derived from oat, soy and other agricultural raw materials. A key component of the Company’s growth strategy is to expand its fiber business globally by leveraging its core competencies in the development, manufacture, and application of highly functional food fibers. This includes the diversification of its product portfolio beyond insoluble oat fibers, penetration of new market segments such as pet foods, and acceleration of sales growth in international markets.
SunOpta also announced that sales of the internally-developed, proprietary SunOpta Soy Fiber S-200, which was introduced earlier this year, are well ahead of expectations. Significant supply agreements have been reached with several customers including a major industrial baked goods manufacturer. Due to the strong growth of the Soy Fiber S-200 the Group is expanding its production capabilities at its Cedar Rapids, IA fiber facility via installation of upgraded processing equipment and rationalization of certain product lines with other SunOpta fiber processing facilities. In addition, sales of oat fiber products in both domestic and international markets are growing as the Company expands its global sales, distribution and support capabilities. As a result, capacity is also being increased by several million pounds, or 15%, at SunOpta’s Louisville, Kentucky facility.
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