Canadian natural and organic food group SunOpta has sold its Mexican frozen-fruit unit to local firm Fruvemex.
SunOpta said yesterday (2 May) that it agreed to sell processing assets in Rosarito and Irapuato for C$3.2m (US$3.4m).
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The company received an initial C$750,000, with the rest of the price set to arrive over the next year.
As part of the deal, Fruvemex, a privately-owned Mexican fruit and vegetable firm, will supply SunOpta with certain products.
SunOpta president and chairman Steve Bromley said the deal was made to help the company “improve the profitability” of its frozen fruit operations, which supply retail, foodservice and industrial customers in the US and other markets.
“This divestiture is the latest step in our strategy to improve the profitability of our frozen fruit operations and continue to simplify our business model with a focus on our core areas of expertise, plus expand strategic relationships to secure long-term supply,” Bromley said. “We believe that Fruvemex will be an excellent long term partner and provide SunOpta with cost competitive fruit products.”
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