SAINT-LAURENT, QUE. — Nature’s Touch, a processor and marketer of frozen fruit products, has acquired certain frozen fruit assets from SunOpta, Inc., Minneapolis, for $141 million.
The transaction includes facilities located in Edwardsville, Kan., and Jocona, Mexico.
“This acquisition puts us in the unique position of providing North American consumers with the most expansive network of freezing and distribution on the continent,” said John Tentomas, chief executive officer of Nature’s Touch. “Together, our combined strengths will propel us to new heights, quicker and with renewed vigor."
Nature’s Touch sells a variety of frozen fruits in the United States and Canada. The company sells branded and private label products.
“The divestiture of our frozen fruit business is a major milestone in our portfolio optimization efforts and our multi-year transformation to becoming a leading manufacturer of value-add products in plant-based and healthy snack categories,” said Joe Ennen, CEO of SunOpta. “This transaction is significantly accretive to margins, results in a more capital efficient business model, strengthens our balance sheet and ensures we are singularly focused on the most attractive growth opportunities.”
SunOpta also announced the appointment of Greg Gaba to chief financial officer. Mr. Gaba has been with the company for six years as deputy CFO. Prior to joining the company, Mr. Gaba worked in finance and external auditor roles at SMTC Corp. and Ernst & Young LLP.