July 5/Vancouver, B.C./Marketwire -- Functional Technologies Corp. appointed James D. Pratt, an accomplished food industry executive, to the position of chief business officer (CBO). His responsibilities will include the cultivation of strategic partnerships and commercial relationships in new food sectors for Functional Technologies' pipeline of technologies, increasing the scope and breadth of industry applications and markets for the company's products.
Possessing more than 24 years of executive experience in the food industry and capital markets, Pratt was most recently CEO of Sepp's Food Group, a multinational manufacturer and provider of frozen foods, including private label "health and well-being" frozen breakfast products. Through his various executive roles at Sepp's, Pratt was instrumental in restructuring and turning the company profitable from a loss position within 24 months, successfully completing several acquisitions and divestitures, managing strategic capital market initiatives before taking the company private, and implementing operational improvements. This enabled Pratt to drive Sepp's Food Group to become a leader in food manufacturing in North America, leading to the sale of the company to its largest competitor in June 2010. Prior to joining Sepp's, Pratt was vice president of Corporate Finance at Midland Walwyn Capital Inc., (acquired by Merrill Lynch) where his responsibilities included the successful execution of mergers and acquisitions, valuations and equity financings.