SunOpta Inc. (Nasdaq:STKL; TSX:SOY). SunOpta announced it has acquired Purity Life Health Products, Canada’s largest independent supplier of natural health care products.
The Toronto-based company is a distributor of health and beauty aids, vitamins, supplements and nutraceuticals.
Purity operates warehousing and distribution operations to service customers across Canada and also operates a packaging facility where a number of supplement and nutraceutical products are produced under the brand names Nature’s Harmony, Vivitas and RxBalance. The company employs 155 people.
Purity has a long history of profitable sales across Canada, and some sales in the U.S. Revenue in the current year will be approximately US$50 million.
The acquisition is projected to be immediately accretive to SunOpta’s earnings and the Purity operations will form a key component of SunOpta’s rapidly growing natural, organic and specialty foods distribution business in Canada. The addition of natural and organic health and beauty aids, vitamins, supplements and nutraceuticals is consistent with SunOpta’s strategy to expand the breadth of complimentary products and services offered to its current customer base across Canada.
Jeremy N. Kendall, Chairman and Chief Executive Officer commented “SunOpta has been distributing some of Purity’s products in Western Canada for sometime and we are delighted that Purity has now become part of the SunOpta group of companies. The addition of Purity is consistent with our stated objectives to broaden the range of products that we can offer our customers across Canada, and we could not be more pleased with this acquisition.”
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food 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 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.
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