Juice maker signs deal to privatize
By Food in Canada staff
Business Operations Beverages Fruit & Vegetables acquisition British Columbia fruit juiceB.C.’s Sun-Rype Products to go private in $94-million deal
Kelowna, B.C. – Sun-Rype Products Ltd. has announced an agreement with its majority shareholder Great Pacific Industries inc. to take the Kelowna-based juice and snack producer private.
Under the terms of the deal Great Pacific Industries, a member of Vancouver-based The Jim Pattison Group, and wholly owned subsidiary SRF Acquisition Inc. will pay $7.50 per share for the remaining 46 per cent of the company, a 20-per-cent premium on the weighted average trading price of the stock.
The agreement, worth $94 million, will be voted on by shareholders at a meeting scheduled for late September.
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