SunOpta asset sales shore up balance sheet, says Canaccord

Canaccord noted SunOpta announced the sale of its frozen fruit assets to Nature’s Touch for $141 million, which includes $20 million in seller promissory notes due in three years. This marks the company’s exit from the frozen fruit business and helps shore up its balance sheet and allows the company to focus on its growth. Canaccord reiterated its Buy rating and $8 price target on SunOpta shares.