CANADA/MEXICO: SunOpta seals fruit processor buy
Toronto-based food group SunOpta has completed the acquisitions of Mexican fruit processor Congeladora del Rio and US marketing group Global Trading for an undisclosed sum.
Del Rio processes fruits including strawberries, peaches and bananas for the food service, industrial and retail markets. Under the terms of the agreement, SunOpta bought all of Del Rio's net operating assets, including working capital, equipment, land and buildings.
Global Trading, the US-based marketing agent for Del Rio, markets 100% of Del Rio's fruits. Del Rio and Global Trading have combined revenues of US$11m.
SunOpta said that it plans to expand Del Rio's capacity and operations in the short term. Sergio Varela, president of SunOpta's fruit business, said: "The acquisitions of Del Rio and Global Trading further enhances our ability to meet customer demand while maintaining control over the supply chain. These transactions reflect the execution of our global expansion strategy, which benefit our customers in ensuring consistent supply and quality, and a cost efficient supply chain."
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