SunOpta Inc. has acquired Sanmark B.V., a sourcing and trading business focused on organic oils for the food, pharmacy and cosmetic industries. Based in The Netherlands, Sanmark B.V. sources raw material globally and generates most of its sales in the European and Asia Pacific markets. The transaction is valued at €3 million ($3.4 million) on a debt-free basis. Toronto-based SunOpta financed it through existing credit facilities.
Sanmark B.V. is expected to reach about €10 million in revenue in 2019. Mark Bolier, president of Sanmark B.V., will lead the global organic oils desk for Tradin Organic Agriculture, a subsidiary of SunOpta. The global organic oils desk includes recently added organic avocado oil sourced from a new Ethiopian facility scheduled to open in the second half of the year.
“The acquisition of Sanmark is expected to further diversify our global oils desk and provide broader access to high-end specialty markets,” said Gerard Versteegh, senior vice-president, global ingredients for SunOpta and president of Tradin Organic Agriculture. “Through this acquisition we are adding seasoned commercial traders to our team who will be able to leverage Tradin’s global reach in organic oils today, while also expanding our ability to source organic raw materials.”
By Jeff Gelski
Source: Food Business News
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.
