SunOpta Inc. ("SunOpta" or the "Company")
(Nasdaq:STKL) (TSX:SOY), a leading global company focused on natural,
organic and specialty foods, today announced the sale of its frozen
fruit processing assets in Rosarito, Mexico and Irapuato, Mexico to
Fruvemex Mexicali, S.A. de C.V. ("Fruvemex"). As part of this
transaction SunOpta also entered into a strategic raw material supply
agreement with Fruvemex, plus a market value lease for Fruvemex's
use of the land and buildings in Irapuato which remain the property of
SunOpta. The purchase price was $3.15 million. An initial installment of
$750,000 was received on the closing of the transaction and the balance
will be paid via a series of installments over the next year. Fruvemex
is a privately owned Mexican entity headquartered in Mexicali, Mexico.
The business has deep roots in frozen, refrigerated and dehydrated fruit
and vegetable products including strawberries, mango, melons, hot
peppers, bell peppers, tomatoes, onions and sap sas and has been a
supplier to SunOpta for several years.
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