SunOpta Divests of Mexican Frozen Fruit Assets and Enters Into Strategic Supply Agreement (STKL)

SunOpta Inc. STKL, a leading global company focused on natural, organic and specialty foods, today announced the sale of its frozen fruit processing assets in Rosarito, Mexico and Irapuato, Mexico to Fruvemex Mexicali, S.A. de C.V. As part of this transaction SunOpta also entered into a strategic raw material supply agreement with Fruvemex, plus a market value lease for Fruvemex's use of the land and buildings in Irapuato which remain the property of SunOpta. The purchase price was $3.15 million. An initial installment of $750,000 was received on the closing of the transaction and the balance will be paid via a series of installments over the next year.