BRIEF-SunOpta announces strategic partnership with Oaktree

Fri Oct 7, 2016 1:08pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Oct 7 (Reuters) - SunOpta Inc :

* SunOpta announces strategic partnership with Oaktree

* Company appoints three independent directors to Sunopta board

* Secures $85 million equity investment

* Proceeds from investment have been used to reduce company's 2nd lien debt

* Sunopta is conducting a thorough review of company's operations, management and governance

* Board of directors has appointed two Oaktree-nominated independent directors, Dean Hollis and Al Bolles, to board

* Expects to provide an updated mid-range plan which will include performance improvements and cost savings to be realized in 2017

* Oaktree also has the right to purchase up to 3 million shares of Sunopta common stock in open market for a period of one year   Continued...