Business
SunOpta Inc. Announces New Refrigerated Soymilk Contract
SunOpta Inc. Announces New Refrigerated Soymilk Contract.
About this update from Sunopta Inc.
[{"type":"text","content":"\n\n\n\n\nCompany Expects Approximately $20 Million in Annual Revenues Each Year\n\nTORONTO, October 18 /CNW/ - SunOpta Inc. (NASDAQ:STKL) (TSX:SOY)\nannounced today that it has signed a three year exclusive contract for the\nsupply of refrigerated packaged soymilk for a major global retailer. This\ncontract will initially generate approximately $20 million in annualized\nrevenue with production expected to commence in early November of this year.\nThe contract will be initially focused on the production of one SKU of\nrefrigerated packaged organic soymilk for distribution and sale in the\ncustomer's retail outlets in North America.\n\nAllan Routh, President of the SunOpta Grains and Foods Group, said, \"We\nare extremely pleased with this contract as it broadens SunOpta's relationship\nwith a significant retailer and utilizes our 'Field to Table' production\nexpertise to provide consumers with a great value organic soymilk. We are\nexcited with the growth opportunities presented in this relationship.\"\n\nSunOpta's vertically integrated soymilk model is integrated from soybean\nsourcing through to consumer packaged products, ensuring SunOpta's control of\nquality and organic certification and providing direct traceability from the\nfarm gate to the retail shelf. In order to fulfill this contract, soybeans\nwill be sourced at SunOpta's facilities in Hope and Moorhead, Minnesota. The\nsoybeans will be processed into liquid soymilk base at SunOpta's ingredient\nplants in Alexandria, Minnesota and Afton, Wyoming. The liquid concentrated\nsoy base and ingredients will subsequently be delivered to a number of\nstrategic partners for final packaging and delivery to the customer.\n\nJeremy Kendall, Chairman and Chief Executive officer of SunOpta Inc.,\ncommented, \"This type of collaboration with a retail industry leader is\npossible because of our ability to create and manage the development of\norganic products that address the nutritional needs of a rapidly increasing\nmarket worldwide. Currently SunOpta is a leading processor and packager of\norganic aseptic and refrigerated soymilk in the U.S. and this contract\nsolidifies our market leadership. We are very excited by this contract and the\npotential to further expand the supply of natural and organic products in this\nmarket.\"\n\nAbout SunOpta Inc.\n\nSunOpta Inc. is an operator...