SunOpta sells off Opta Minerals to focus on food
Targeting its focus on organic, non-GMO and specialty foods, SunOpta Inc. announced it is selling substantially all of its shares of Opta Minerals to an affiliate of Speyside Equity Fund I LP.
“The sale of Opta Minerals represents a significant milestone, and we are pleased to be concluding this chapter of our company’s history as it paves the way for SunOpta to truly become a pure-play healthy and organic foods company,” says Rik Jacobs, president and CEO of SunOpta. “Following completion of the deal, our entire team will be able to focus solely on the growth and strategic priorities of our vertically-integrated international foods business, and the sale will further simplify our reporting. In addition to the greater financial flexibility created by our new expanded credit facility, our balance sheet will no longer reflect the debt associated with Opta Minerals.”
The transaction is subject to shareholder approval and other customary conditions and is expected to close in early April.