June 28 Juice and snacks maker Sun-Rype Products
Ltd has received a proposal from Great Pacific
Industries Inc to take the company private in a deal valued at
about C$37 million.
Great Pacific Industries is part of The Jim Pattison Group,
which owns well known entertainment brands such as 'Ripley's
Believe It or Not!' and 'Guinness World Records'.
Great Pacific and its affiliates already own about 5.82
million, or about 54 percent, of Sun-Rype's common shares.
Under the proposal, all shareholders of the company, other
than Great Pacific and its affiliates, would receive C$7.50 cash
for each Sun-Rype common share, a 30 percent premium over Friday
Jim Pattison is a Canadian billionaire and sole owner of The
Jim Pattison Group, one of the country's largest privately held
companies. The group owns television and radio stations, car
dealerships and grocery store chains, among a host of other
The group also announced in May that it would buy, subject
to regulatory approval, 3 FM radio stations from Bell Media and
Astral Media Inc.
Shares of Kelowna, British Columbia-based Sun-Rype closed
down about 5 percent at C$5.76 on the Toronto Stock Exchange.