SunOpta partners with Oaktree Capital, scores $85 mln investment
Canadian specialty foods producer SunOpta Inc (Nasdaq: STKL, TSX: SOY) has entered into a partnership with U.S. private investment firm Oaktree Capital Management. With the deal, Oaktree invested $85 million in the form of exchangeable preferred shares, which will be used to reduce SunOpta's second lien debt and increase flexibility. Oaktree will be limited to a 19.99 percent interest in the company. Toronto-based SunOpta said it, Oaktree and Engaged Capital are conducting a business review aimed at delivering long-term value to shareholders and accelerating growth. Reuters previously reported that SunOpta has been under pressure from hedge fund investors to make strategic changes.
7 October 2016•10 mins read
