MINNEAPOLIS, MINNESOTA, US — Amsterdam Commodities nv (Acomo) has reached an agreement to acquire the global ingredients business and related assets of SunOpta Inc. for €330 million ($389.65 million). The transaction is expected to close by January 2021.

The acquisition will include SunOpta processing facilities located in Amsterdam, the Netherlands; Silistra, Bulgaria; Addis Ababa, Ethiopia; and Yirgalem, Ethiopia. Approximately 525 employees will be transferred to Acomo from SunOpta.

“With the exciting acquisition of Tradin, Acomo will realize a highly complementary acquisition, creating a leading global player across organic and conventional unlisted commodities,” said Allard Goldschmeding, group managing director at Acomo. “The company is a leading partner for the organic food industry, benefiting from the rapidly growing global consumer demand for sustainable and healthy foods. Tradin has an attractive financial profile and will continue to be led by a highly experienced management team.”

SunOpta said its global ingredients business contributed approximately $488 million to net sales in the 12 months ended Sept. 26. Following the sale, SunOpta said it plans to use proceeds to pay down debt and invest in expanding its value-added plant-based foods and beverages segment. The transaction also is expected to lower SunOpta’s commodity trading exposure while enhancing long-term growth rate and margins.

 “I’m pleased to announce this strategically transformational transaction,” said Joseph D. Ennen, chief executive officer of SunOpta. “This transaction further solidifies SunOpta’s future direction as a high-growth, plant-based company focused on providing value-added products in competitively advantaged categories with consistent, sustainable, above-average growth characteristics. The long-term supply agreement negotiated as part of this transaction provides SunOpta with the benefit of a continued strategic relationship with a leading global ingredient player in Acomo. Furthermore, this transaction de-levers and strengthens SunOpta’s balance sheet, enabling the acceleration of near-term expansion plans in our fast-growing plant-based food and beverage segment. The plans include both high-return capital investment projects, as well as synergistic acquisitions, that add to an existing set of strong capabilities in our core plant-based beverage platform. This is a very exciting time for us at SunOpta as we look forward to building on our success of the past four quarters.”

Acomo distributes natural food products and ingredients through several subsidiaries, including: Catz International BV in Rotterdam, the Netherlands (spices and food raw materials); Van Rees Group BV in Rotterdam, (tea); Red River Commodities Inc. in Fargo, North Dakota, US; Red River Global Ingredients Ltd. in Winkler, Canada; Red River-van Eck BV in Etten-Leur, the Netherlands; Food Ingredients Service Center Europe BV in Etten-Leur; SIGCO Warenhandelsgesellschaft mbH in Hamburg, Germany (edible seeds); King Nuts BV in Bodegraven; Delinuts BV in Ede; Tovano BV in Maasdijk, the Netherlands (nuts); and Snick EuroIngredients NV in Ruddervoorde, Belgium (food ingredients).