SunOpta, a seller of organic and specialty foods, agreed to buy Sunrise Holdings in a $450 million deal to expand its frozen-fruit offerings.
The acquisition will add four cents to adjusted earnings per share in fiscal 2016 and five cents the following year, Canada-based SunOpta said in a statement. Sunrise is owned by an investor group led by affiliates of Paine & Partners.
SunOpta, which sells a range of products from non- genetically modified soybeans to Nature’s Finest orange juice, said the purchase will complement its frozen-fruit business. Sunrise generates about $300 million in annual sales and has facilities in California, Kansas and Mexico.
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