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SunOpta, a Canadian company focused on organic, GM-free and speciality foods, has announced that it is exiting the nutritional snack bar business with the cessation of operations at its facility in Carson City, NV, USA.
Nutrition bars accounted for $13 million of SunOpta’s revenue in fiscal 2016, and $11 million of revenue during the first half of 2017, the company said, noting that the discontinuation of the bar product lines was expected to be positive to EBITDA in future periods. SunOpta added that it was working with its nutrition bar customers to expedite its exit from the operations and said it was targeting completion by the end of fiscal 2017.
Commenting on the move, SunOpta CEO Dave Colo said: “The planned discontinuation of our nutrition bar operations reflects our continued efforts to optimize our portfolio to focus on product lines where the Company is effectively positioned to generate long-term profitable returns. The decision to cease operations at Carson City is accretive to EBITDA and allows us to redeploy both our financial and human resources towards more profitable segments of our business where we have enhanced strategic positioning”.
Source: SunOpta (via BusinessWire)
