The purchase price was not disclosed.
SunOpta Ingredients will retain the fiber facility staff previously employed by Golden Valley, MN-based General Mills' bakeries and foodservice division. The company has entered into an agreement to supply oat fiber to General Mills, Inc.
With the addition of this facility and the previously announced expansions at existing operations, the company has essentially doubled its total annual oat fiber processing capacity since August. The company's growth in oat fiber has been driven by the significant increase in consumer demand for healthier food offerings, resulting from the popularity of low carbohydrate diets such as Atkins and South Beach, and the general trend to improve the nutritional content of foods.
The Cedar Rapids facility is expected to operate at near capacity levels shortly following the close. The company plans to upgrade the facility's operating structure and further increase operating capacity.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
