SunOpta sells frozen fruit assets to Fruvemex
May 2, 2011
by Keith Nunes
TORONTO — SunOpta Inc. has sold its frozen fruit processing assets in Rosarito, Mexico, and Irapuato, Mexico, to Fruvemex Mexicali, S.A. de C.V. for C$3.15 million ($3.32 million). As part of the agreement, SuOpta also entered into a raw material supply agreement with Fruvemex Mexicali.
The assets involved in the transaction include the SunOpta Fruit Specialties division frozen fruit operations, which supply frozen strawberries and other fruit products to retail, food service and industrial customers.
“This divestiture is the latest step in our strategy to improve the profitability of our frozen fruit operations and continue to simplify our business model with a focus on our core areas of expertise, plus expand strategic relationships to secure long-term supply,” said Steve Bromley, president and chief executive officer of SuOpta. “We believe that Fruvemex will be an excellent long-term partner and provide SunOpta with cost competitive fruit products.”
Fruvemex is a privately-held company that processes frozen, refrigerated and dehydrated fruits and vegetables such as strawberries, mango, melons, hot peppers, bell peppers, tomatoes, onions and salsas.