Sun, Sep 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Amazon/Whole Foods Deal bolsters Tourbillon's activist stake in SunOpta

Wednesday, June 21, 2017

Bailey McCann, Opalesque New York:

At the end of May, activist hedge fund firm Tourbillon Capital Partners wanted organic-food company SunOpta Inc. to sell itself. The firm had amassed an almost ten percent stake in the company and was pushing for SunOpta to hire bankers and start a process. Then, the Amazon/Whole Foods deal was announced. The two actions might not seem related, but during a presentation today at the Ben Graham Value Investing Conference sponsored by the New York Society of Security Analysts (NYSSA), Tourbillion CEO/CIO Jason Karp outlined why the Amazon deal effectively amounts to a SunOpta sale.

SunOpta is essentially a provider of white label organic food. Brands from Starbucks to Target use SunOpta as a sourcer and distributor of private label product lines. One of SunOpta's biggest clients is Whole Foods. SunOpta sources and creates the products in Whole Foods generic brand - "365 Everyday Value". According to Karp, with the Amazon deal, 365 is likely to end up online as part of Amazon Fresh, the company's online grocery delivery service.

"Amazon understands that millennial consumers aren't focused on brand-name products. They are focused on markers of quality or markers of values like organic groceries," Karp said during his presentation. "One of the biggest focus areas for Amazon is the private label marke......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. iCapital Network enters deal to acquire innovative U.S. private equity access fund platform from Deutsche Bank[more]

    Komfie Manalo, Opalesque Asia: Financial technology platform iCapital Network has entered into a definitive purchase agreement to acquire the US Private Equi

  2. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2

  3. Launches - Orchard launches new credit platform, ETN based on hedge fund to launch on the LSE[more]

    Orchard launches new credit platform Orchard Platform has rolled out Deals as a part of its new platform launch. With the addition of Deals to their suite of technology solutions for loan originators and institutional investors, Orchard Platform takes the next step in their evolution. De

  4. Neuberger Berman closes $1.1bn Credit Opportunities Fund[more]

    Neuberger Berman, a private, independent, employee-owned investment manager, announced that NB Private Equity Credit Opportunities Fund LP closed on $1.1 billion of limited partner commitments. The Fund seeks to invest in the secured and unsecured debt of private equity-backed companies, primarily i

  5. Capital Dynamics launches mid-market private credit business[more]

    Capital Dynamics, a global private asset manager, has launched a dedicated Private Credit Asset Management business. Experienced industry executives Jens Ernberg and Thomas Hall have joined Capital Dynamics to co-lead the company's new private credit initiative. They are based in Capital Dynamics' N