©SunOpta
Global food and mineral company SunOpta announced that it had successfully closed a $30 million preferred equity financing on Tuesday 27 April.
The news follows the original announcement on 16 April 2020, whereby the company revealed they had entered into a financing agreement with funds managed by Oaktree Capital Management and Engaged Capital.
Oaktree and Engaged have invested $30 million in SunOpta, and have agreed to include an additional $30 million at the Company’s option.
Proceeds from the equity investment will be used to support SunOpta’s plant-based foods and beverages business. In addition, the company will also remain focused on natural foods, ingredient sourcing, organic food and specialty foods.
Most recently, SunOpta offloaded its specialty and organic soy and corn business to Pipeline Foods for $66.5 million.
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