Stock Monitor: J&J Snack Foods Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors issued a free report on SunOpta Inc. (NASDAQ: STKL), which is readily accessible upon registration at www.active-investors.com/registration-sg/'symbol=STKL as the Company's latest news hit the wire. On December 06, 2017, the Company, which is a leading global organization focused on organic, non-genetically modified and specialty foods, announced that it is making a significant investment in its roasted snacks operations at its facility in Crookston, Minnesota. Sign up now for our free research reports at:
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Active-Investors.com is currently working on the research report for J&J Snack Foods Corp. (NASDAQ: JJSF), which also belongs to the Consumer Goods sector as the Company SunOpta. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, SunOpta most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/'symbol=STKL
Value Creation Plan
SunOpta's investments further the Company's ongoing commitment to produce food products of the highest quality and safety for its customers, and are expected to provide significant operational efficiencies as part of the Company's ongoing portfolio optimization strategy and Value Creation Plan.
Dave Colo, Chief Executive Officer (CEO) of SunOpta stated:
"The investment in the Crookston facility will expand our capabilities and allow us to capitalize on the strong underlying consumer trends in healthy snacking, and further advance our quality and food safety initiatives."
Launched in early 2017, through the Value Creation Plan, the Company is targeting implementation of $30 million of productivity-driven annualized enhancements of EBITDA in the first phase of the plan, to be implemented over 2017 and 2018. The plan envisages additional investment in capital upgrades at several manufacturing facilities in order to enhance food safety and manufacturing efficiencies.
Since the initiation of the Value Creation Plan, the Company has implemented portfolio changes that are expected to yield approximately $6.0 million of annualized EBITDA benefits, process improvements, and cost savings that are expected to yield approximately $5.3 million of annualized EBITDA benefits, and go-to-market improvements through strategic pricing actions that are expected to yield approximately $1.2 million of annualized EBITDA benefits.
Closure of Wahpeton Plant
SunOpta stated that alongside the investment, customers and capabilities from its existing Wahpeton, North Dakota roasting facility will be consolidated into the Crookston location, where the Company expects to close operations during Q2 2018.
SunOpta expects to incur expenses relating to the Wahpeton facility closure of approximately $2.0 million to $2.5 million related to asset impairment charges and severance costs of which less than $1.0 million is expected to be cash. These charges are expected to be recognized during Q4 2017.
About SunOpta
SunOpta is a leading global Company focused on organic, non-genetically modified (non-GMO), and specialty foods. SunOpta specializes in the sourcing, processing, and packaging of organic and non-GMO food products, integrated from seed through packaged products; with a focus on strategic vertically-integrated business models. SunOpta's organic and non-GMO food operations revolve around value-added grain, seed, fruit- and vegetable-based product offerings, supported by a global sourcing and supply infrastructure.
Stock Performance Snapshot
December 07, 2017 - At Thursday's closing bell, SunOpta's stock marginally dropped 0.66%, ending the trading session at $7.50.
Volume traded for the day: 140.31 thousand shares.
Stock performance in the last past twelve-month period - up 0.67%; and year-to-date - up 6.38%
After yesterday's close, SunOpta's market cap was at $638.48 million.
The stock is part of the Consumer Goods sector, categorized under the Processed & Packaged Goods industry.
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