Canada’s SunOpta has sold its organic soy and corn business to US-based Pipeline Foods for CAD66.5m (US$50.5m).

The Toronto- and Nasdaq-listed Canadian ingredients, packaged foods and beverages manufacturer said in a statement today (25 February) the deal closed on Friday and is subject to “certain post-closing adjustments”. 

Pipeline Foods is located in Minneapolis, Minnesota, and was part of SunOpta’s North American raw materials operations. It owns five plants, with four located in the same state and one in Iowa.

As part of the deal, the two companies have signed a supply agreement for “certain” ingredients used in SunOpta’s consumer products business.

Meanwhile, SunOpta said it will continue to operate its other North American sourcing and supply business, consisting of sunflower and roasting operations, as well as its European-based international sourcing and supply platform, known as Tradin Organic, which were not part of the sale.

John Ruelle, SunOpta’s senior vice president for raw materials sourcing and supply, said: “Our speciality and organic soy and corn business has a long history of supplying high quality, speciality, non-GMO and organic ingredients to the food industry. I want to thank all of our employees who are transitioning to Pipeline Foods for their hard work and dedication.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.