TORONTO, Nov 09, 2006 (BUSINESS WIRE) -- SunOpta Inc. (SunOpta or the Company) (STKL) (CA:SOY) today announced that it has completed the acquisition of the Quest Vitamins brand of vitamins, minerals and supplements including the business, inventory, Vancouver warehousing operations and a two year manufacturing agreement with the former owner.
Quest, with current revenues of approximately $8 million, is a premium quality line of natural vitamins and supplements sold for the past 30 years throughout Canada in both Food, Drug and Mass and health food retailers.
The acquisition will be integrated with the recently acquired operations of Purity Life Health Products (Purity Life) and the SunOpta Canadian Food Distribution Group resulting in immediate synergies arising from shared warehousing, expanded sales coverage and improved service levels.
David Chapman, President of Purity Life, a division of the SunOpta Canadian Food Distribution Group, described the Quest Acquisition "as a perfect fit for Purity Life and SunOpta" and confirmed his intention to continue to grow the Quest brand across all channels through innovative product development, marketing and retailer programs.
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to references to business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.