CANADA: Sun-Rype reaches agreement with Del Monte for Fruit to Go trademark
Sun-Rype Products Ltd. announces yesterday that it has agreed to sell the Fruit to Go trademark in the United States to Del Monte Corporation. According to the agreement, Del Monte will pay Sun-Rype a one-time fee of $875,000 for the rights to the Fruit to Go trademark in the United States. Sun-Rype retains rights to the Fruit to Go brand for its dried fruit snack product in the United States and retains the exclusive rights to the mark in Canada and all other currently held registrations in other foreign markets."This is a win-win situation for Sun-Rype and Del Monte", says Lawrence Bates, CEO, Sun-Rype Products Ltd. "It gives Del Monte a great name for their fresh fruit cups in the U.S. and gives Sun-Rype capital to invest in our brand in eastern and central Canada. It also allows Sun-Rype to retain the use of the Fruit to Go brand in the United States for our dried fruit product."Sun-Rype Products Ltd., based in Kelowna, B.C., is a national manufacturer of apple-based food and beverage products. The company manufactures and markets a variety of juice and snack food products including the company's flagship Blue Label Apple Juice and Fruit to Go 100% all natural fruit snacks. Sun-Rype is a publicly traded company with its common shares listed on The Toronto Stock Exchange under the symbol SRF.
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