SunOpta Inc. announced that the formation of the SunOpta Fruit Group, based in Los Angeles, has been completed. The SunOpta Fruit Group will be a supplier of frozen fruit-based products to the private label, foodservice and industrial markets in North America. The newly formed Fruit Group, consisting of the combination and integration of Organic Ingredients Inc., Cleugh's Frozen Foods Inc. and Pacific Fruit Processors Inc., all based in California, will generate total annualized revenues of approximately $100 million.
Sergio Varela, president of the SunOpta Fruit Group, said, "The integration of these three established businesses will enable us to become a dominant player in the natural and organic North American frozen fruit market. This is a large and rapidly growing market, driven by consumers that are dedicated to making nutritional choices that will improve their health and their quality of life. With industry analysts estimating that the U.S. natural and organic food markets will reach $14.5 billion this year and will grow to $30.7 billion by 2007, this integration provides us the opportunity to become a leading competitor in this exciting market."