Food In Canada

Juice maker signs deal to privatize

By Food in Canada staff   

Business Operations Beverages Fruit & Vegetables acquisition British Columbia fruit juice

B.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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