Canadian organic and natural foods company SunOpta has announced that it has reached an agreement to acquire 51% of the outstanding shares of Aptos, California-based Organic Ingredients.
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The company said the cash transaction was completed at the weekend. As part of the transaction, SunOpta has also obtained an option to acquire the 49% minority position in 2005.
Organic Ingredients supplies a range of certified organic ingredients including processed fruit and vegetable based ingredients, sweeteners, vinegars and others. The company sources and contract manufactures through exclusive arrangements with suppliers located around the world, including North America, South America, Europe and Asia. The company also develops organic private label products.
“This acquisition serves to further solidify SunOpta as a key supplier to the growing organic foods and healthy eating markets,” said Jeremy Kendall, chairman and CEO of SunOpta.
