SunOpta, the Canadian natural and organic food group, has acquired Dutch ingredients supplier, The Organic Corporation, which operates as Tradin Organic Agriculture.
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The transaction, which will see SunOpta acquire all the outstanding shares in The Organic Corporation from its shareholders, Wim Rabbie and Gerard Versteegh, for an undisclosed sum, is subject to completion of due diligence and definitive agreements and is expected to close within 60 days, SunOpta said.
The Canadian company added that Tradin’s organic foods sourcing and processing expertise would complement its own natural and organic foods platform. Tradin’s existing management will remain with the company and play a key role in the continued development of the combined companies’ extensive capabilities, SunOpta stated.
“The combination of SunOpta’s global organic sourcing and processing operations with Tradin’s extensive and complementary operations, positions SunOpta as a global leader in the provision of organic ingredients in the world, and is consistent with our strategy to become the leading global supplier of natural and organic food products,” said SunOpta’s president and CEO Steve Bromley.
Founded in 1985, Tradin has annual revenues of around EUR85m (US$120m). The company positions itself as a “one stop shop” for organic ingredients, and includes frozen and fresh fruits and vegetables, cereals, rice, soy and dairy products.
The company has wholly or partially owned subsidiaries in the Netherlands, China, Serbia and Ethiopia, and operates sales and sourcing operations in the US, Germany, Austria, France and Thailand.
