Why Plant-Based Foods And Beverages Company SunOpta's Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
SunOpta Inc's shares are up by over 26% following the disclosure of Q3 FY23 preliminary results, asset sales, and CFO transition details. The company sold certain frozen fruit assets to Nature's Touch for $141 million, marking its exit from the frozen fruit business. The proceeds will be used to reduce debt and other liabilities. The company also announced the appointment of Greg Gaba as CFO, replacing Scott Huckins.
October 13, 2023 | 1:50 pm
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SunOpta's shares are up following the disclosure of Q3 FY23 preliminary results, asset sales, and CFO transition. The company sold its frozen fruit assets for $141 million, which will be used to reduce debt.
The rise in SunOpta's shares can be attributed to the company's strategic move to sell its frozen fruit assets for $141 million, which will be used to reduce debt and other liabilities. This move is likely to strengthen the company's financial position and boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100