SunOpta, the Canadian food group, is to embark on an internal strategic review in a bid to “enhance shareholder value”, the company said today (4 September).
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The company, which has seen its profits suffer amid write-downs at its fruit unit, said a three-man committee would carry out the review.
Chairman Jeremy Kendall, lead director Robert Fetherstonhaugh and president and CEO Steve Bromley will make up the committee.
“Despite record revenue and strong internal growth and operating performance, the Company’s shares trade at a discount to its historical valuation benchmarks,” Kendall said.
Among other options, SunOpta said the committee would study the prospect of selling off “non-core businesses or assets” and examine the capital structure of the company.
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