Hedge fund Tourbillon urges SunOpta to sell itself

Fri May 27, 2016 12:21pm EDT
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May 27 (Reuters) - Hedge fund firm Tourbillon Capital Partners LP has sent a letter to SunOpta Inc, urging that the Canadian food company be sold to increase shareholder value, according to a regulatory filing on Friday.

The $4 billion hedge fund has a 9.9 percent stake in SunOpta. Its shares have fallen 44 percent this year as of Thursday's close.

"Simply put, we believe SunOpta can become a more valuable business as a part of a larger enterprise," Jason Karp, who runs Tourbillion, wrote in the letter, according to a 13-D filing with the U.S. Securities and Exchange Commission. (Reporting by Svea Herbst; Writing by Lauren Tara LaCapra; Editing by Jeffrey Benkoe)