Feb 13 (Reuters) - Opta Minerals Inc, which is majority owned by Canadian organic food processor SunOpta Inc , bought Babco Industrial Corp for $17.6 million in cash.
Regina, Saskatchewan-based Babco’s facility is located close to Opta’s key vendors and customers.
Babco is an industrial processor and supplier of petroleum coke.
Opta, which sources industrial minerals for steel, water filtration, construction and other purposes, said it is also obligated to pay an additional $1.3 million in cash on certain conditions.
The acquisition is expected to immediately add to both Opta and SunOpta’s earnings. (Reporting by Aftab Ahmed in Bangalore; Editing by Supriya Kurane)