SunOpta Inc. Completes Divestiture of Canadian Food Distribution AssetsJune 11, 2010
SunOpta Inc. (“SunOpta”) (Nasdaq:STKL) (TSX:SOY) completed a divestiture of certain of its Canadian Food Distribution assets to UNFI Canada, Inc. (“UNFI Canada”), a wholly owned subsidiary of United Natural Foods, Inc. (“UNFI”), for cash consideration of approximately $68 million. The Canadian Food Distribution assets included in this transaction formed part of the SunOpta Distribution Group. SunOpta retained the natural health products distribution and manufacturing assets which represent the balance of the assets of the SunOpta Distribution Group. All active employees directly involved in the Canadian food distribution operations were offered employment with UNFI Canada. UNFI is a leading distributor of natural, organic and specialty foods in the United States.
Wildeboer Dellelce LLP acted for SunOpta in connection with the transaction with a team that included Troy Pocaluyko, James Brown, Patrick Magee (corporate/securities), Christopher Partridge (debt products) and Kevin Fritz (tax).
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