SunOpta agrees to acquire Snapdragon
SunOpta Inc has reached an agreement in principle to acquire the natural and organic distribution business known as Snapdragon Natural Foods Inc from its parent company, I-D Foods Corp. Snapdragon distributes organic groceries and frozen products to the mass market and natural food retailers across Canada with warehousing facilities in Montreal, Quebec; Toronto, Ontario; and Calgary, Alberta.
The Snapdragon operation will further contribute to the SunOpta’s objective of building Canada’s first national natural and organic foods distributor. The transaction is subject to completion of due diligence and definitive agreements and is expected to close around May 31, 2004.
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