Brampton, Ont. – SunOpta Inc. is selling its Canadian-based Purity Life Natural Health Products division to an affiliate of Banyan Capital Products for $14.7 million.
Acton, Ont.-based Purity Life Natural Health Products is part of SunOpta’s International Foods Group. The division distributes a range of natural health products (NHPs), including dietary supplements and vitamins, as well as natural body care and household products. It is the largest stand-alone distributor of NHPs in Canada, with sales of $60 million annually.
Banyan Capital Partners, based in Toronto and Vancouver, is an affiliate of Connor, Clark & Lunn Financial Group, a Canadian asset management firm.
According to SunOpta president and CEO Steve Bromley, the sale completes the company’s exit from the distribution business, following its divestment of its food distribution assets in 2010. The company is instead now focused on its integrated natural and organic foods sourcing and processing business.