SunOpta Inc., a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production, has reached an agreement to sell its global ingredients segment and related assets to Amsterdam-based global commodity trading company, Amsterdam Commodities N.V. (Acomo) for a debt and cash free consideration of €330 million.
The transaction, which remains subject to customary closing conditions, is expected to close by January 2021.
“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," says Joe Ennen,CEO of SunOpta.
"The long-term supply agreement negotiated as part of this transaction provides SunOpta with the benefit of a continued strategic relationship with a leading global ingredient player in Acomo. Furthermore, this transaction de-levers and strengthens SunOpta’s balance sheet, enabling the acceleration of near-term expansion plans in our fast-growing plant-based food and beverage segment."
Allard Goldschmeding, Acomo group managing director, says with the acquisition of Tradin, the company will be a leading partner for the organic food industry, benefitting from the rapidly growing global consumer demand for sustainable and healthy foods.
"Tradin has an attractive financial profile and will continue to be led by a highly experienced management team,” he says.
Under the terms of the agreement, SunOpta will sell processing facilities located in Amsterdam, the Netherlands; Silistra, Bulgaria; Addis Ababa, Ethiopia; and Yirgalem, Ethiopia. These facilities and their employees will continue to operate in ordinary course. Approximately 525 employees will be transferred from SunOpta to Acomo.
About SunOpta Inc.
SunOpta Inc. is a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production.
About Amsterdam Commodities N.V.
Amsterdam Commodities N.V. (Acomo) is an international group with as its principal business the trade and distribution of natural food products and ingredients.
