SunOpta Inc. Enters Into USD330 Million Loan and Completes USD444 Million Acquisition

October 09, 2015

SunOpta Foods Inc., a wholly-owned subsidiary of SunOpta Inc. (TSX: SOY, NASDAQ: STKL) and a leading global company focused on organic, non-GMO and specialty foods, entered into a second lien loan agreement with Bank of Montreal, as administrative agent and collateral agent, and a syndicate of lenders pursuant to which SunOpta Foods Inc. borrowed an aggregate principal amount of USD330 million (the “Loan”).

The Loan was completed in connection with the concurrent acquisition by SunOpta Inc. of Sunrise Holdings (Delaware), Inc. from an investor group led by affiliates of Paine & Partners LLC for USD444 million, subject to certain adjustments.  SunOpta Inc. financed the acquisition with the Loan, net proceeds from its September 30, 2015 USD100 million offering of common shares and borrowings under its existing North American credit facilities.

Wildeboer Dellelce LLP acted as Canadian counsel to SunOpta Inc. in connection with the Loan, the equity financing and the Sunrise acquisition with a team that included Troy Pocaluyko, Jeff Hergott, Michael Rennie and Ragu Anantharajah (corporate/securities), Chris Partridge and Steven Vasilevski (debt products) and Richard Lewin (tax).