Business
SunOpta Announces Acquisition of Purity Life Health Products
SunOpta Announces Acquisition of Purity Life Health Products.
About this update from Sunopta Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, September 21 /CNW/ - SunOpta Inc. (SunOpta or the Company)\n(Nasdaq:STKL) (TSX:SOY). SunOpta announced today that it has acquired 100% of\nthe business and assets of Purity Life Health Products (\"Purity\") and related\ncompanies.\nPurity, which is located in Acton, Ontario, just West of Toronto,\ndistributes a wide range of health and beauty aids, vitamins, supplements and\nnutraceuticals. Purity operates warehousing and distribution operations to\nservice customers across Canada and also operates a packaging facility where a\nnumber of supplement and nutraceutical products are produced under the brand\nnames Nature's Harmony, Vivitas and RxBalance. The company employs 155 people,\nincluding a national sales force, and is Canada's largest independent supplier\nof natural health care products to all channels of distribution, including\nhealth professionals.\nPurity has a long history of profitable sales across Canada including\nlimited sales to the U.S. Revenue in the current year will be approximately US\n$50 million.\nThe acquisition is projected to be immediately accretive to SunOpta's\nearnings and the Purity operations will form a key component of SunOpta's\nrapidly growing natural, organic and specialty foods distribution business in\nCanada. The addition of natural and organic health and beauty aids, vitamins,\nsupplements and nutraceuticals is consistent with SunOpta's strategy to expand\nthe breadth of complimentary products and services offered to its current\ncustomer base across Canada.\nDavid Chapman, President of Purity commented \"We are delighted to have\nPurity become a part of the growing SunOpta family. The values of SunOpta are\nconsistent with those of Purity and we are confident that the combination of\nour business will serve to provide improved customer service and product\nofferings to our valued retail partners.\"\nJeremy N. Kendall, Chairman and Chief Executive Officer commented\n\"SunOpta has been distributing some of Purity's products in Western Canada for\nsometime and we are delighted that Purity has now become part of the SunOpta\ngroup of companies. The addition of Purity is consistent with our stated\nobjectives to broaden the range of products that we can offer our customers\nacross Canada, and we could not be more pleased with this acquisition.\"\n\nAbout SunOpta Inc.\n\nSun...