SunOpta Inc. on Wednesday purchased Niagara Natural Fruit Snack Co. Inc. for about $7 million, its second acquisition in recent weeks of a fruit-related company.
Niagara Natural, based in Ontario, grows organic fruit and produces healthy snacks from it.
The deal is much smaller than the $450 million purchase of Sunrise Holdings, a supplier of conventional and organic frozen fruit and fruit ingredients, announced on July 31.
SunOpta is based in Toronto, has administrative offices in Edina and several hundred employees in Minnesota. The company, which has about $1 billion in annual sales, is a supplier of organic corn, sunflower seeds and other organic ingredients to major food processors. It also makes finished products — soy milk and orange juice — for food retailers.
With Niagara, SunOpta gains a market presence in fruit snacks in the eastern part of Canada and the U.S. and about $10 million in annual sales.
"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," Rik Jacobs, SunOpta's chief operating officer, said in a statement.
Evan Ramstad • 612-673-4241
