SunOpta Announces Agreement to Sell Its Global Ingredients Segment to Amsterdam Commodities N.V. - Seite 2

Nachrichtenquelle: Business Wire (engl.)
10.11.2020, 07:01  |  268   |   |   

The Global Ingredients business being sold contributed approximately US$488 million to SunOpta’s net sales for the twelve months ended September 26, 2020. The transaction valuation represents an approximate 10x multiple of Adjusted EBITDA(1) for the standalone business. This transaction is highly tax efficient and is expected to be accretive to the Company’s long-term growth rate and margin profile further focusing the Company on delivering more consistent financial results for our shareholders.

Proceeds from this transaction will be used for capital investment primarily into the core Plant-Based Foods and Beverages segment and to pay down debt.

Conference Call Information

SunOpta plans to host a conference call at 9:00 A.M. Eastern time today to discuss the strategic divestiture of the global organic ingredients business. Investors interested in listening to the conference call can join at the US toll-free number (833) 513-0545 or international dial in number +1 (778) 560-2569. The conference ID number is 1093806. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days at the Company's website.

Advisors

Rothschild & Co is serving as financial advisor, PricewaterhouseCoopers Advisory N.V. is serving as accounting advisor, and Van Doorne N.V. and Faegre Drinker Biddle & Reath LLP are serving as legal advisors to SunOpta.

Rabobank is serving as financial advisor, Deloitte and KPMG are serving as accounting and tax advisors respectively and NautaDutilh and Latham & Watkins LLP are serving as legal advisors to Acomo.

About SunOpta Inc.

SunOpta Inc. is a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production. SunOpta specializes in the sourcing, processing and packaging of organic, natural and non-GMO food products, integrated from seed through packaged products, with a focus on strategic vertically integrated business models.

About Amsterdam Commodities N.V.

Amsterdam Commodities N.V. (Acomo) is an international group with as its principal business the trade and distribution of natural food products and ingredients. Our main trading subsidiaries are Catz International B.V. in Rotterdam, the Netherlands (spices and food raw materials), Van Rees Group B.V. in Rotterdam, the Netherlands (tea), Red River Commodities Inc. in Fargo, USA, Red River Global Ingredients Ltd. in Winkler, Canada, Red River-van Eck B.V. in Etten-Leur, the Netherlands, Food Ingredients Service Center Europe B.V. in Etten-Leur, the Netherlands, and SIGCO Warenhandelsgesellschaft mbH in Hamburg, Germany (edible seeds), King Nuts B.V. in Bodegraven, Delinuts B.V. in Ede, and Tovano B.V. in Maasdijk, the Netherlands (nuts), and Snick EuroIngredients N.V. in Ruddervoorde, Belgium (food ingredients). Acomo shares have been traded on Euronext Amsterdam since 1908.

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SunOpta Announces Agreement to Sell Its Global Ingredients Segment to Amsterdam Commodities N.V. - Seite 2 SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL) (TSX:SOY), a leading global company focused on plant-based foods and beverages, fruit-based foods and beverages, and organic ingredient sourcing and production, today announced it has reached …

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