Toronto-based company SunOpta has purchased Niagara Natural, which grows and manufactures non-GMO and organic fruit snacks, for approximately $6.7 million.
The based in Ontario company, Niagara Natural, has around 35 employees and is expected to generate approximately CAD 10 million (USD 7.7 million) in revenue in 2015. With the acquisition SunOpta is extending its business in fruit snacks and will have manufacturing operation in both the East and West of the country.
“We see product innovation opportunities in healthy and organic packaged fruit snacks, but also in fruit-based ingredients and new products focused on main stream snacking,” commented chief executive officer of SunOpta, Steve Bromley. “Our ongoing investment in new product development plays a key role in our growth strategy, and the fruit snack category is a great example of a category where we intend to provide innovative products for existing and new customers”.