Juice maker signs deal to privatize

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.