MINNEAPOLIS — Personal fairness agency Pacific Avenue Capital Companions has bought SunOpta Inc.’s sunflower and roasted snacks enterprise for $16 million.
The acquisition contains three of SunOpta’s services based mostly in Crookston and Breckenridge, Minn., and Grace Metropolis, ND, which can now function beneath the Sunrich Merchandise label.
“This divestiture of a non-core enterprise represents additional progress in opposition to our strategic crucial of portfolio transformation, specializing in high-growth, high-return alternatives which can be differentiated and leverage the aggressive strengths of our distinctive mannequin,” stated Joe Ennen, chief govt officer of SunOpta.
The corporate stated it can give attention to its plant-based meals and drinks enterprise following the divestiture, together with its line of oat, almond, soy, rice, coconut and hemp-based merchandise. SunOpta has been quickly scaling its plant-based portfolio since 2020, with oat milk sales serving as a main progress driver.