SunOpta Selling Global Ingredients Segment for $389M

Amsterdam Commodities is acquiring several ingredient processing plants as part of the transaction.

Powder Bulk Solids Staff

November 10, 2020

1 Min Read
SunOpta Selling Global Ingredients Segment for $389M

Plant-based foods and organic ingredients firm SunOpta Inc. is divesting from its Global Ingredients segment in a €330 million (about $389 million) transaction with Amsterdam Commodities N.V. (Acomo), the company announced Tuesday.

“This transaction further solidifies SunOpta’s future direction as a high-growth, plant-based company focused on providing value-added products in competitively advantaged categories with consistent, sustainable, above average growth characteristics,” Joe Ennen, CEO of SunOpta, said in a statement. “The long-term supply agreement negotiated as part of this transaction provides SunOpta with the benefit of a continued strategic relationship with a global ingredient player in Acomo.”

The executive also said the deal will bolster the company’s balance sheet and complements its existing platform for plant-based beverages.

Acomo will acquire SunOpta processing plants in Amsterdam, the Netherlands; Silistra, Bulgaria; Addis Ababa, Ethiopia; and Yirgalem, Ethiopia through the deal. 525 SunOpta workers at those facilities will remain in place under the new ownership.

The Global Ingredients business generated $488 million in net sales during the 12-month period that ended Sept. 26, 2020.

SunOpta and Acomo expect the sale to close this January pending the completion of customary closing conditions.

About the Author(s)

Powder Bulk Solids Staff

Established in 1983, Powder & Bulk Solids (PBS) serves industries that process, handle, and package dry particulate matter, including the food, chemical, and pharmaceutical markets.

Sign up for the Powder & Bulk Solids Weekly newsletter.

You May Also Like