SunOpta Acquires Dahlgren & Company, Inc.

TORONTO, Nov. 8, 2010 (GLOBE NEWSWIRE) -- SunOpta Inc. ("SunOpta" or the "Company") (Nasdaq:STKL) (TSX:SOY) today announced that it has signed definitive agreements to acquire 100% of the outstanding shares of Dahlgren & Company, Inc. ("Dahlgren"), on a debt free basis, for cash consideration of $44 million, subject to normal post closing adjustments, plus an earn-out based on pre-determined targets over the next two years. The transaction is expected to be completed by the close of business today.

Dahlgren was founded in 1955 and is headquartered in Crookston, Minnesota. With four strategically located operating facilities in Minnesota, North Dakota and South Dakota, supported by a staff of approximately 150 employees, Dahlgren is an integrated processor and global supplier of confection sunflower seed products including in-shell and kernel products, roasted sunflower and soy nuts, bird food, hybrid seed and other miscellaneous products. Dahlgren serves a number of sectors including the snack food, bakery, food ingredients and bird feed industries. Approximately 40% of its products are marketed internationally to customers in Europe, Asia, Australia, Canada and South America and in addition the business sells to customers in every state in the United States.

Dahlgren has annualized revenues of approximately $80 million and has been a consistently profitable business. The three owners of the business, Thomas Miller, Charles Considine and Timothy Egeland are all industry veterans who will remain with the business following the transaction. The combination of the Dahlgren business with SunOpta's existing confection sunflower business is expected to be synergistic and will create one of the largest confection sunflower businesses in the world, with extensive vertically integrated operating capabilities via operations in North America and China. The transaction is expected to be immediately accretive to SunOpta's earnings and will be financed through existing banking facilities.

Tom Miller, CEO of Dahlgren commented, "We are excited to be joining forces with SunOpta as we believe our companies have similar values, a common understanding of our markets and products, and a commitment to product innovation and customer service. Tim, Charlie and I want to express our sincere appreciation to our dedicated employees for their hard work and commitment and we look forward to working with them as part of the SunOpta family."