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SunOpta Provides Corporate Update

June 27,2016

TORONTO--(BUSINESS WIRE)-- SunOpta Inc. ("SunOpta") (Nasdaq:STKL) (TSX:SOY), a leading global company focused on organic, non-genetically modified and specialty foods, today provided a corporate update on its efforts aimed at improving operational performance, accelerating growth and enhancing shareholder value.

Financial and Legal Advisors

The Company has maintained an ongoing dialogue with its largest shareholders. Recently, management and some members of the Board of Directors met directly with many of the Company's largest shareholders, including Tourbillon Capital Partners. Following these consultations and reflecting the views expressed by a number of these large shareholders, including that now is not the right time to commence an outright sale of the Company, the Board of Directors has hired Rothschild Inc., supported by legal advisors Davies Ward Phillips & Vineberg LLP, to review the Company's operating plan and evaluate a complete range of strategic and financial actions that SunOpta could undertake to maximize shareholder value. There is no set timetable for the completion of this review process. SunOpta does not intend to disclose or comment on its review, unless and until the Board of Directors approves a specific action, or otherwise concludes its review.

Board of Directors

The SunOpta Nominating and Governance Committee has been working to identify director candidates who can add additional operating, industry and capital markets experience and expertise to the Board of Directors. Encouraged by Tourbillon Capital Partners and other major shareholders, SunOpta also announced today that its Board of Directors has hired Russell Reynolds Associates, a global executive search, assessment and succession planning firm, to assist in identifying director candidates, including potential candidates that have been brought forward by shareholders.

Management Change

SunOpta announced today that oversight of Quality Assurance has been transferred from the Company's operations department to Jim Gratzek, Senior Vice President, Research and Development. Gratzek has extensive experience in food quality, process improvement and technology development and is charged with significantly enhancing the Company's food quality and safety processes and procedures. He will also continue to lead SunOpta's Research and Development efforts. "The same disciplined, focused approach which Jim has employed so successfully in our R&D function will help us to more rapidly address the process challenges at the root of our recent quality issues. This change will also allow our operations teams to more single-mindedly focus on efficiency improvements in our plants and in our global supply chain, thereby enhancing our ability to achieve our stated goal of increasing gross margins," commented Rik Jacobs, SunOpta President and Chief Executive Officer.

"With these steps today, we are responding to our shareholders and taking the necessary steps to review SunOpta's strategic opportunities and improve the Company's operational performance to create value for all shareholders," stated SunOpta Board of Directors Chairman Alan Murray.

"We believe SunOpta has a unique and enviable position in the market and has the potential to create increased value for all our shareholders," said Jacobs. "These announcements today enhance SunOpta's ability to achieve operational excellence, maintain financial discipline and pursue innovation to drive growth."

About SunOpta Inc.

SunOpta Inc. is a leading global company focused on organic, non-genetically modified ("non-GMO") and specialty foods. The Company specializes in the sourcing, processing and packaging of organic and non-GMO food products, integrated from seed through packaged products, with a focus on strategic vertically integrated business models. The Company's organic and non-GMO food operations revolve around value-added grain-, seed-, fruit- and vegetable-based product offerings, supported by a global sourcing and supply infrastructure.

Forward-Looking Statements

Certain statements included in this press release may be considered "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, which are based on information available to us on the date of this release. These forward-looking statements include, but are not limited to, our expectation that we will be able to more rapidly address the process challenges at the root of our recent quality issues, focus more on efficiency improvements in our plants and in our global supply chain and our belief that the Company has a unique and enviable position in the market. Generally, forward-looking statements do not relate strictly to historical or current facts and are typically accompanied by words such as "will", "should", "believe", "would", "may", "plans", "expect", "anticipate", "estimate", "intend", "project", "potential", "continue", "might", "predict" and other similar terms and phrases intended to identify these forward-looking statements. Forward-looking statements are based on information available to us on the date of this release and are based on estimates and assumptions made by the Company in light of our experience and perception of historical trends, current conditions and expected future developments as well as other factors we believe are appropriate in the circumstances. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Whether actual timing and results will agree with expectations and predications of the Company is subject to many risks and uncertainties including risks described from time to time under "Risk Factors" in our Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q (available at Consequently, all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments that we anticipate will be realized.

SunOpta Inc.
Public Relations
Rob Litt, Director Global Communications

Source: SunOpta Inc.

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