SunOpta to buy private frozen fruit supplier for about $450 mln

Fri Jul 31, 2015 7:59am EDT
 
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July 31 (Reuters) - Canadian organic food provider SunOpta Inc said it would buy organic frozen fruit supplier Sunrise Holdings Delaware Inc from private equity firm Paine & Partners LLC for about $450 million.

The deal is expected to add 10 cents to SunOpta's adjusted earnings per share in fiscal 2016, the company said.

Sunrise, which generates annual revenue of about $300 million, has retail and food service facilities in California, Kansas and Mexico.

Citi served as SunOpta's financial adviser. Faegre Baker Daniels LLP and Simpson Thacher & Bartlett LLP were the company's legal advisers. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Maju Samuel)