TORONTO, Jun 9, 2004 (CCNMatthews via COMTEX) -- SunOpta Inc. (SunOpta or the Company) (STKL) (CA:SOY) today announced that it has completed the previously announced purchase of 100% of the outstanding shares of Supreme Foods Limited (Supreme Foods), a certified organic, natural, kosher and specialty grocery products distributor headquartered in Toronto, Ontario, effective May 1, 2004.
SunOpta also announced that it has completed the previously announced purchase of the assets of Snapdragon Natural Foods Inc. (Snapdragon), a natural and organic grocery distribution business from its parent company, I-D Foods Corporation, effective May 31, 2004. The Snapdragon business will be consolidated with Supreme Foods through a transition period.
Subsequent to the completion of these transactions, an agreement has been signed to lease a 135,000 square foot warehouse in Metropolitan Toronto to house the consolidated operations. Construction is expected to be completed in January 2005.
The Company also announced that it has completed the consolidation of the Pro Organics Montreal operations with Distribue-Vie Fruits & Legumes Biologiques, which was acquired on March 1, 2004, into a new 23,000 square foot facility located in Montreal, Quebec.
The Company has now achieved its objective of creating the first national platform for the distribution of natural and organic foods through which it is currently distributing more than 4,500 products.
SunOpta Inc. is an owner/operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. For the last six consecutive years, SunOpta was included in Profit magazine's 'Profit 100' list of the 100 fastest growing companies in Canada. 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 StakeTech Steam Explosion Group that engineers and markets clean pulping systems using patented steam explosion technology. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.