Toronto-based SunOpta has inked a three-year exclusive deal with an unnamed major international retailer to supply refrigerated packaged soymilk. The contract will initially generate annualised revenues of CAD$20m (US$17.6m) and at the outset will focus on the production of SKU organic soymilk for distribution throughout North America.
Allan Routh, president of the SunOpta Grains and Foods Group, said: “We are extremely pleased with this contract as it broadens SunOpta’s relationship with a significant retailer and utilizes our ‘Field to Table’ production expertise to provide consumers with a great value organic soymilk. We are excited with the growth opportunities presented in this relationship.”
SunOpta’s vertically integrated soymilk model means that the company will be responsible for production from soybean sourcing through to manufacture of the finished packaged consumer product.
Jeremy Kendall, chairman and chief executive officer of SunOpta, said that this partnership with a large retail company is a result of growing consumer demand for natural and organic foodstuffs. “This type of collaboration with a retail industry leader is possible because of our ability to create and manage the development of organic products that address the nutritional needs of a rapidly increasing market worldwide. Currently SunOpta is a leading processor and packager of organic aseptic and refrigerated soymilk in the US and this contract solidifies our market leadership. We are very excited by this contract and the potential to further expand the supply of natural and organic products in this market,” he said.