FDBusiness.com

SunOpta to sell minerals business

 Breaking News
  • Carlsberg Group Remains on Course Carlsberg Group has announced organic and reported net revenue growth of 2% to DKr31.77 billion (€4.27 billion) for the first half of 2017 although group beer volumes fell organically by 3%, chiefly due to a decline in Russia. Operating profit was up 15% organically, with all three regions – Western Europe, Eastern Europe and Asia [...]...
  • UK Food-to-go Market to Reach £23.5 Billion by 2022 The UK’s food-to-go sector is in rude health and will be worth £23.5 billion by 2022, up from £17.4 billion in 2017, according to IGD, as shoppers’ preference for eating on the move shows no signs of slowing down. IGD’s food-to-go research splits the market into five segments, with the organisation’s latest forecasts suggesting particularly strong [...]...
  • Irish Food Companies Encouraged to ‘Think Digital’ and Maximise Online Retail Opportunity Bord Bia has announced a partnership with the Digital Marketing Institute to offer Irish food and drink companies an opportunity to grow and develop their online presence with a view to increasing brand awareness and sales. ‘Think Digital’ is a 6-month digital marketing programme available to all Irish food and drink companies designed specifically to address the [...]...
  • Norwegians Sceptical About Ready-to-eat Food Around 40% of Norwegian consumers agree with the statement that industrially produced food is unhealthy, according to the results of a survey conducted by Kantar TNS on behalf of Orkla. Nine out of 10 think that the food they prepare themselves is better than industrially produced food, while close to half think that the industry [...]...
  • Mandatory CCTV in All Slaughterhouses Under New Animal Welfare Plans CCTV will be mandatory in all slaughterhouses in England under new plans recently announced by Environment Secretary Michael Gove, as he outlined a series of measures to cement the UK’s position as a global leader on animal welfare. The proposals will deliver a manifesto commitment for CCTV to be required in every slaughterhouse in England [...]...
  • £3.7 Billion Worth of Discounts Disappear From UK Supermarket Shelves as Promotions Fall to Lowest Levels in 10 Years The pressure on UK retailers to be more transparent in their pricing has seen the number of trade promotions fall to their lowest levels for 10 years, and in 2017, shoppers will receive £3.7 billion less in promotional savings. This is according to a new report by IRI, the provider of big data and predictive analytics [...]...

SunOpta to sell minerals business

February 15
11:11 2016

sunopta-inc-logoCanadian organic food specialist, SunOpta  has agreed to sell its Opta Minerals business to private equity firm Speyside Equity Fund for almost $6.2 million, as it looks to focus on its core food distribution business.

The sale follows a strategic review undertaken of its specialist minerals business undertaken by SunOpta in June 2014.

SunOpta, which owns a 66 percent stake in Opta Minerals, said it would receive around $4.2 million in cash from the sale, which means it is moving out of the minerals business which it deems as not core.

Opta Minerals, which processes, distributes and recycles industrial minerals, made revenues of $141million and $7 million in operating profits in 2013, according to its latest results.

SunOpta tried to sell Opta Minerals in 2011 but shelved the potential sale in light of economic conditions.

Rik Jacobs, president and chief executive of SunOpta said: “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 health and organic foods company.”

Jacobs said the sale would mean that SunOpta would have more financial flexibility going forward.
As part of the deal, Opta Minerals will delist from the Toronto Stock Exchange in March this year.

SunOpta, Inc. is a multi-national company focused on natural, organic and specialty foods products, headquartered in Canada and founded in 1973.

Speyside Equity was formed to bring an operationally intensive approach to investing in manufacturing businesses within the specialty chemicals, food/ingredients, and metal-forming sectors. Target investments typically have revenues between US$20 million to US$300 million range, dependent on the industry, and are valued between US$20 million to US$200 million.

About Author

admin

admin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements