The snack and juice maker said the deal is worth $94m, and includes the assumption of debt and liabilities.
Great Pacific Industries Inc, a member of The Jim Pattison Group, and SRF Acquisition Inc, a wholly-owned subsidiary, will pay $7.50 per share for the stake it does not already own. Great Pacific and its affiliates currently own a 54% stake in Sun-Rype or roughly 5.82m shares.
Sun-Rype said this offer is a 20% premium on the weighted average trading price of the stock. It still needs to pass regulatory approvals, and also be voted on by shareholders at a special meeting scheduled on or about 24 September.
Source: Sun-Rype Products Ltd
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