SunOpta Completes Two Previously Announced Acquisitions
TORONTO, Ontario, Nov 27, 2003 -- SunOpta Inc.
(SunOpta) (Nasdaq - STKL) (TSX - SOY) today announced it has completed
the acquisitions of the business and operating assets of SIGCO Sun
Products, Inc. ("Sigco") of Breckenridge, Minnesota and the purchase
of 100% of the shares of Sonne Labs, Inc. (operated as "Dakota
Gourmet") of Wahpeton, North Dakota.
SIGCO is a world wide supplier of sunflower products and is fully
integrated from the sale of sunflower seed to farmers through
processing the contracted crop into finished in-shell and kernel
sunflower products. The company operates four facilities located in
Minnesota, North Dakota and Kansas.
SIGCO markets its non-genetically modified sunflower products
throughout the United States and to international markets in Europe,
Asia and the Americas. The company is a leader in high-oleic sunflower
seeds which have a shelf life approximately five times the traditional
sunflower kernel, large in-shell sunflower seeds with increasing
demand in world wide markets, and bakery kernels, where the company
has developed a unique lower cost production process to service North
American and International markets.
SIGCO's vertically integrated business model is highly compatible
with SunOpta's existing vertically integrated operations. SIGCO's
locations in the Mid-Western United States facilitate the integration
of management and marketing strategies with SunOpta's Grains and Soy
Products Group.
Dakota Gourmet is a small, fast growing company focused on the
manufacture of innovative natural and organic snack foods using soy,
corn and sunflower ingredients. These products are sold under the
Dakota Gourmet brand and are also produced for private label
customers.
The company's operational capabilities include roasting, blending
and packaging and its products are marketed to the United States
school program, various manufacturers, retailers and distributors.
Dakota Gourmet and Kettle Valley, a wholly-owned subsidiary of SunOpta
will co-ordinate their future marketing and product development
programs.
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 five 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
Food Group, which specializes in sourcing, processing and distribution
of natural and organic food products; integrated from seed through
packaged products; the Environmental Industrial Group; a producer,
distributor, and recycler of environmentally friendly industrial
materials; and the Steam Explosion Technology Group who engineer and
market 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.
Note: This news release may contain forward-looking information.
Actual future results may differ materially. The risks, uncertainties,
and other factors that could influence actual results are described in
the Company's annual report to shareholders and in SEC filings.
SOURCE: SunOpta Inc.
SunOpta Inc.
Jeremy N. Kendall
Steve Bromley
Susan Wiekenkamp
905-455-2528, ext 103
info@sunopta.com
or:
Investor Relations Counsel
The Equity Group Inc.
Linda Latman 212-836-9609
Websites:
www.theequitygroup.com
www.sunopta.com
www.sunrich.com
www.bei.ca
www.steamexplosion.com
www.sunrichvalley.com
www.organickitchen.ca
www.wildwestorganicharvest.com
www.kettlevalley.net
www.opta-food.com
www.proorganics.com
www.sigcosun.com
www.dakotagourmet.com