SunOpta Inc has acquired the Canadian kosher and speciality food distributor Les Importations Cacheres Hahamovitch.
In a statement SunOpta said it had acquired 100% of the outstanding shares of 4307623 Canada Inc. into which has been transferred the business, operating assets and liabilities of Hahamovitch.
Hahamovitch generates annualised revenues of approximately C$5.2m and operates from a 31,000 square foot facility located in Montreal, Quebec.
The operations of Hahamovitch will be integrated as part of the SunOpta Canadian Food Distribution Group and will continue to be managed by Michael Zimlichman, its president.
“The business will become a platform for the further development of SunOpta’s organic, natural and specialty food grocery distribution business in the Province of Quebec,” a statement said.
Steve Easterbrook, president of the SunOpta Canadian Food Distribution Group said: “This acquisition will strengthen our supply arrangements with numerous kosher food producers around the world as well as bring new product lines to each company. The quality and certification attributes of kosher foods are very complementary to our organic and natural food categories.”
Zimlichman said: “I am very pleased to have Hahamovitch join the SunOpta team. Our values, principles and knowledge are closely aligned and that will ensure continued integrity in serving the Montreal kosher and specialty food community.”
The transaction closed on December 22, 2005 and was completed for cash, a non-interest bearing note and certain earn-our provisions based on the future performance of the company, the statement said.