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SunOpta Puts Opta Minerals Unit Back on the Auction Block

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SunOpta Puts Opta Minerals Unit Back on the Auction Block

SunOpta Puts Opta Minerals Unit Back on the Auction Block
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SunOpta Puts Opta Minerals Unit Back on the Auction Block

by TheStreet 1:30 mins

SunOpta, the Bramptom, Ontario-based food distributor, has put its Opta Minerals unit back on the auction block, according to the company's CEO Steve Bromley. SunOpta first put the minerals unit up for sale in 2011, but by December of that year, decided not to part with the business citing economic concerns and near-term growth opportunities. Bromley said Opta Minerals, of which SunOpta owns a 66% stake, will be sold sometime this year. SunOpta itself has seen its stock price soar as it focuses on organic and non-GMO foods. It fact, in the food distribution space, it could be a consolidation candidate as larger players look to enter the high-growth organic category.

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