M&A Deal Summary

SunOpta Acquires Sunrise Growers-Frozsun Foods

On July 31, 2015, SunOpta acquired food company Sunrise Growers-Frozsun Foods from Paine Schwartz Partners for 450M USD

Acquisition Highlights
  • This is SunOpta’s 16th transaction in the Food sector.
  • This is SunOpta’s largest (disclosed) transaction.
  • This is SunOpta’s 15th transaction in the United States.
  • This is SunOpta’s 7th transaction in California.

M&A Deal Summary

Date 2015-07-31
Target Sunrise Growers-Frozsun Foods
Sector Food
Buyer(s) SunOpta
Sellers(s) Paine Schwartz Partners
Deal Type Add-on Acquisition
Deal Value 450M USD
Advisor(s) Simpson Thacher & Bartlett (Legal)

Target

Sunrise Growers-Frozsun Foods

Placentia, California, United States
website
Sunrise Growers-Frozsun Foods, Inc. is a supplier of frozen strawberry products as well as a distributor and marketer of fresh strawberries. Sunrise sells under its own brands as well as through its customers' private label programs.

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Buyer(S) 1

Buyer

SunOpta

Mississauga, Ontario, Canada

website


Category Company
Founded 1973
Sector Food
Employees1,451
Revenue 935M USD (2022)
DESCRIPTION

SunOpta is the largest soy processing company in North America, supplying branded product manufacturers such as Hain Celestial (West Soy) and Dean Foods (Silk). The Company also sells other organic, non-genetically modified soy, oat and corn ingredients to food manufacturers. In addition, SunOpta is the largest distributor of organic groceries in Canada. SunOpta?s other holdings include an environmental services company involved in cleaning bridges, ships and other surfaces; and a steam explosion technology division dedicated to exploiting a proprietary technology for extracting pulp in an environmentally friendly manner from straw and other natural products. SunOpta was founded in 1973 and is based in Mississauga, Canada.


DEAL STATS #
Overall 32 of 35
Sector (Food) 16 of 19
Type (Add-on Acquisition) 29 of 31
State (California) 7 of 7
Country (United States) 15 of 16
Year (2015) 2 of 3
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-02 Citrusource

Laguna Beach, California, United States

Citrusource LLC is a provider of organic and conventional orange juice and citrus products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-12 Niagara Natural Fruit Snack

St. Davids, Ontario, Canada

Niagara Natural Fruit Snack Co., Inc. is a manufacturer of healthy non-GMO and organic fruit snacks.

Buy $7M

Seller(S) 1

SELLER

Paine Schwartz Partners

San Mateo, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Paine Schwartz Partners is a private equity firm specializing in sustainable food chain investing. The Firm targets control investments in the food and agriculture sectors and will consider opportunities globally. Paine Schwartz Partners was formerly known as Paine & Partners - and before that was part of Fox Paine & Co. Paine Schwartz Partners has offices in San Mateo, California and New York City.


DEAL STATS #
Overall 19 of 26
Sector (Food) 3 of 4
Type (Add-on Acquisition) 9 of 10
State (California) 2 of 3
Country (United States) 12 of 16
Year (2015) 5 of 5
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-29 Costa

Melbourne, Australia

Costa is a producer, marketer and exporter of high-quality fresh fruit and vegetables. Costa is a full-service grower, packer, shipper, marketer, importer and exporter. Costa was founded in 1888 and is based in Ravenhall, Australia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-28 Suba Seeds

Longiano, Italy

Suba Seeds is a producer of coriander with a strong portfolio of core crops including varieties of beans, peas, radish, cabbage, alfalfa, carrots, chicory, and onion. Suba Seeds was founded in 1974 and is based in Longiano, Italy.

Buy -