SunOpta Inc. Announces $44 Million Acquisition of Dahlgren & Company, Inc.
Client SunOpta Inc. ("SunOpta") today announced the acquisition of Minnesota-based Dahlgren & Company, Inc. ("Dahlgren"), for cash consideration of $44 million, subject to normal post-closing adjustments, plus an earn-out based on pre-determined targets over the next two years. Dahlgren is an integrated processor and global supplier of confection sunflower seed product, with annualized revenues of approximately $80 million. The acquisition establishes SunOpta as one the largest confection sunflower businesses in the world.
Steve Bromley, President and Chief Executive Officer of SunOpta Inc., said, "The combination of Dahlgren's extensive vertically integrated capabilities in confection sunflower with our existing sunflower operations creates a leading worldwide confection sunflower business, with a focus on vertically integrated and value-added healthy food products. This acquisition is consistent with our strategy to grow our core value-added natural and organic foods platform, creating strong market positions in niche categories, while at the same time continuing to focus on continuous improvement and the divestiture of non-core businesses."
A Stoel Rives team, led by Joe Thompson and Debra Frimerman, represented SunOpta in the acquisition, including negotiation and drafting of the stock purchase agreement and related due diligence.
Read the SunOpta press release