SunOpta Inc. announced it has reached an agreement to acquire 51% of the outstanding shares of Organic Ingredients Inc. (Organic Ingredients), headquartered in Aptos, Calif. The cash transaction has already been completed. As part of this transaction, SunOpta has also obtained an option to acquire the 49% minority position in 2005.
Organic Ingredients is a leading trader and provider of a wide range of certified organic industrial ingredients, including processed fruit and vegetable based ingredients, sweeteners, vinegars and others. The company sources and contract manufactures through exclusive arrangements with suppliers located around the world, including North America, South America, Europe and Asia. These exclusive supply arrangements enable the company to maintain a strategic advantage in the organic food ingredient market, in terms of cost and availability of supply.