SunOpta Fruit Group has expanded its strategic relationships in Argentina and Chile, entering into exclusive deals to supply organic and natural frozen fruit products in these regions.
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The agreements increase SunOpta’s supply of natural and organic strawberries, raspberries and blueberries, apple and pear purees and fruit and vegetable concentrates from an important supply region, the company said.
SunOpta has a five-year exclusive supply agreement with Baby’s Best Infant Food Ingredient., a producer of organic and natural purees and concentrates in Mendoza, Argentina. In addition, SunOpta received a first right of refusal and an option to acquire all of the outstanding shares of Baby’s Best and related companies based on a predetermined formula, exercisable in March 2009.
The Canadian natural and organic food manufacturer has also entered into a three-year exclusive organic supply agreement with a leading processor of organic and natural frozen fruits in Chile. Under the terms of the agreement SunOpta will finance a capital expansion to further develop growth in critical organic supply over the next three years.
Commenting on the strengthening of SunOpta’s South American ties, Steve Bromley, president and CEO, said: “We have had an excellent relationship with these companies over the past number of years and are delighted to expand these relationships to ensure our customers of a high quality, reliable and growing source of key organic products. These transactions reflect our strategy of extending our international sourcing capabilities for products that are in short supply globally.”
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