TORONTO — SunOpta Inc. has acquired Niagara Natural Fruit Snack Co., Inc., Ontario, for approximately $6.7 million. Niagara Natural is a maker of non-bioengineered and organic fruit snacks, and the company has one manufacturing plant.
“Niagara Natural is a strong strategic fit within our core vertically integrated consumer products strategy, aligning well with our focus on healthy and convenient snacking,” said Rik Jacobs, president and chief operating officer of SunOpta. “Not only are we adding a growing business that enhances our leadership position in this on-trend category, but we are adding a talented team with operational expertise and a customer base comprised of high-quality, blue chip retailers.”
SunOpta said Niagara Natural is expected to generate approximately C$10 million in revenue for 2015. John Boot, who founded Niagara in 2009 and serves as the company’s president, will join SunOpta and lead the company’s fruit snack business.
|Steve Bromley, c.e.o. of SunOpta.|
“We see product innovation opportunities in healthy and organic packaged fruit snacks, but also in fruit-based ingredients and new products focused on main stream snacking,” said Steve Bromley, chief executive officer of SunOpta. “Our ongoing investment in new product development plays a key role in our growth strategy, and the fruit snack category is a great example of a category where we intend to provide innovative products for existing and new customers.”
Niagara Naturals is not the only acquisition SunOpta has made in the past few months. In late July, the company signed an agreement to acquire Sunrise Holdings, Inc., a supplier of private label frozen fruit, for approximately $450 million.