CANADA/US: SunOpta to buy sunflower-seed firm Dahlgren
Canada-based organic-food group SunOpta is to buy US sunflower-seed firm Dahlgren & Co.
SunOpta said today (8 November) that it had agreed to pay C$44m (US$43.8m) for the business, plus an unspecified "earn-out" based on targets to be met over the next two years.
Dahlgren is a supplier of confection sunflower-seed products including in-shell and kernel products, roasted sunflower and soy nuts.
The company generates annual sales of around C$80m Dahlgren and serves a number of sectors including the snack food, bakery and food ingredients categories. Around 40% of its products are marketed internationally to customers in Europe, Asia, Australia, Canada and South America.
SunOpta president and CEO Steve Bromley said: "The combination of Dahlgren's extensive vertically integrated capabilities in confection sunflower with our existing sunflower operations creates a leading worldwide confection sunflower business, with a focus on vertically integrated and value-added healthy food products."
Dahlgren co-owner CEO Tom Miller will stay on at the business alongside the company's other two owners Charlie Considine and Tim Egeland.
"We are excited to be joining forces with SunOpta as we believe our companies have similar values, a common understanding of our markets and products, and a commitment to product innovation and customer service," Miller said.
Canadian natural and organic food group SunOpta has sold its Mexican frozen-fruit unit to local firm Fruvemex....
Natural and organic food group SunOpta has booked an increase in full-year profits on the back of growing sales and improved profitability....
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