SunOpta to Close Acquisition of Tradin Organic Agriculture of Amsterdam, Expanding Global Organic Ingredient Sourcing and Processing Platform

TORONTO - SunOpta Inc. announced that it has finalized its due diligence and related documentation and expects to close the previously announced acquisition of the outstanding shares of The Organic Corporation B.V., operating as Tradin Organic Agriculture B.V. on April 1, 2008.


Tradin was founded in 1985, and since that time has grown consistently into one of the world's leading providers of globally sourced organic food ingredients with annual revenues of approximately EUR 85 million (approximately USD $120 million). The Company is a key supplier of a wide variety of organic products including frozen fruits and vegetables, dried fruits, coffee, cocoa, cereals, rice, soy, beans, pulses, seeds, nuts, oils, dairy products, seasonings, sweeteners and more. The existing management of Tradin will remain with the Company and play an important role in the continued development of the organization's extensive capabilities.

Headquartered in Amsterdam, the Netherlands, Tradin operates a number of wholly-owned and partially owned companies based in the Netherlands, China and Ethiopia. In addition, the Company maintains sales and sourcing operations in the United States, Germany, Austria, France and Thailand which source and procure organic ingredients from extensive relationships in key growing areas around the globe.

Tradin's organic foods sourcing and processing expertise complements SunOpta's broad natural and organic foods platform, sourcing and processing from diverse geographies and serving a global customer base. The combination of these capabilities is expected to lead to further integrated sourcing and processing opportunities around the globe and will position SunOpta as one of the dominant suppliers to the rapidly growing organic foods industry. The transaction is expected to be earnings neutral in fiscal 2008, before the impact of operating synergies which are expected to transpire as the combined strengths of the operations are realized.

Wim Rabbie and Gerard Versteegh, the shareholders of Tradin commented, "We are very pleased to be finalizing the transaction and look forward to being part of the SunOpta family. We are extremely confident that the combination of our companies will lead to the development of a truly world-class leader in the provision of quality organic food ingredients, with excellent prospects for future growth."

Steve Bromley, President and Chief Executive Officer of SunOpta commented, "We are most pleased to be finalizing the transaction to acquire the outstanding shares of Tradin Organics. The entire Tradin team share SunOpta's strong values and commitment to the development of sustainable organic foods ingredients to meet growing demand around the world. The combination of SunOpta's global organic sourcing and processing operations with Tradin's extensive and complementary operations, positions SunOpta as a global leader in the provision of organic ingredients in the world, and is consistent with our strategy to become the leading global supplier of natural and organic food products."