Cal Pacific acquires SunOpta frozen fruit assets
May 31, 2011
by Eric Schroeder
TORONTO — Cal Pacific Specialty Foods, L.L.C. has acquired SunOpta Inc’s frozen fruit processing equipment in Salinas, Calif., for approximately $1.8 million. The assets previously were leased to Cal Pacific. Cal Pacific will continue to supply individually quick frozen strawberries and other products to SunOpta under an existing long-term supply agreement.
The processing assets included in the transaction were part of the SunOpta Fruit Group, and more specifically, the SunOpta Fruit Specialties frozen fruit operations, which supply frozen strawberries and other fruit products in I.Q.F. and other packaging formats to retail, food service and industrial customers in the United States and certain international markets.
“This divestiture is another step in simplifying our frozen fruit business model to focus on value-added private label frozen fruit products for the retail and food service channels and improve long-term profitability,” said Steve Bromley, president and chief executive officer of SunOpta. “The funds will be reinvested in other internal growth projects within the company.”