SunOpta Inc. Secures US$60 Million Equity CommitmentApril 16, 2020
SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), a leading global company focused on plant and fruit-based foods and beverages and organic ingredient sourcing and production, entered into a financing agreement with funds managed by Oaktree Capital Management and Engaged Capital. Pursuant to the financing agreement, Oaktree and Engaged will invest up to a total of US$60 million in SunOpta in two tranches through the purchase and sale of exchangeable preferred shares. Proceeds from the equity investment will be used primarily to invest in SunOpta’s plant-based foods and beverages business, principally to add capacity via capital projects and to provide incremental liquidity given the current general economic uncertainty.
Wildeboer Dellelce LLP represented the special committee of the board of directors of SunOpta with a team that included Troy Pocaluyko, Mark Wilson and Colin Romano (corporate/securities).
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