"SunOpta divests".SunOpta Inc. ("SunOpta" or the "Company") (Nasdaq:STKL) (TSX TSX Toronto Stock Exchange (TSE before April, 2002)
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TSX True Space Extension :SOY), a leading global company focused on natural, organic and specialty foods, today announced the sale of its frozen fruit processing assets in Rosarito, Mexico and Irapuato, Mexico to Fruvemex Mexicali, S.A. de C.V. ("Fruvemex"). As part of this transaction SunOpta also entered into a strategic raw material supply agreement with Fruvemex, plus a market value lease for Fruvemex's use of the land and buildings in Irapuato which remain the property of SunOpta. The purchase price was $3.15 million. An initial installment of $750,000 was received on the closing of the transaction and the balance will be paid via a series of installments over the next year. Fruvemex is a privately owned Mexican entity headquartered in Mexicali, Mexico. The business has deep roots in frozen, refrigerated and dehydrated de·hy·drate
v. de·hy·drat·ed, de·hy·drat·ing, de·hy·drates
1. To remove water from; make anhydrous.
2. To preserve by removing water from (vegetables, for example). fruit and vegetable products including strawberries, mango mango (măng`gō), evergreen tree of the Anacardiaceae (sumac family), native to tropical E Asia and now grown in both hemispheres. The chief species, Mangifera indica, is believed to have been cultivated for about 6,000 years. , melons, hot peppers, bell peppers, tomatoes, onions and sap sas and has been a supplier to SunOpta for several years.