Sat, Jul 29, 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. Oaktree's Howard Marks issues another cautionary tale[more]

    Benedicte Gravrand, Opalesque Geneva: Oaktree's co-chairman Howard Marks' latest memo is another cautionary one that advoca

  2. Months to minutes: Enigma launch aims to boost crypto hedge fund creation[more]

    From Coindesk.com: What if starting a hedge fund was as easy as downloading an API? A startup incubated at MIT Media Lab is today revealing a product designed with this ease-of-use in mind. Called Catalyst, the first product offering by blockchain startup Enigma aims to trigger nothing short of an e

  3. North America - Hedge funds disclose their Puerto Rico debt holdings, US dominates new money portion of Greece's debt sale[more]

    Hedge funds disclose their Puerto Rico debt holdings From Reuters.com: A group of hedge funds that hold about $3 billion of Puerto Rico sales-tax-backed debt released a court filing late on Tuesday that revealed how much of the total amount each fund manages. Decagon Holdings LLC,

  4. $25 million cryptocurrency fund launches to capitalize on the "internet of the future"[more]

    From Coindesk.com: General Crypto, a $25 million cryptocurrency hedge fund, has launched to provide high net worth investors with liquid exposure to the cryptocurrency market and digital assets that they believe could run the technological infrastructure of the future. Since the start of 2017, the t

  5. Other Voices: ICO hell is here (for U.S. investors)[more]

    Chris Kitze Technology Innovator and Investor ICO's surpassed VC funding for blockchain companies in the first half of 2017. Tezos raised $232m in two weeks and Bancor pocketed $153m in just three hours. New coin listings on exchanges have generated eye-popping returns for early investor