Sun-Rype shareholders approve plan of arrangement

TSX:  SRF

KELOWNA, BC, Sept. 24, 2013 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) ("Sun-Rype" or the "Company") announces that at the special meeting of the Company's shareholders held in Kelowna today (the "Meeting"), the shareholders have approved the previously announced plan of arrangement among the Company, SRF Acquisition Inc. ("SRF") and Great Pacific Industries Inc. (the "Arrangement").

Under the Arrangement, SRF will acquire all of the common shares of the Company not already owned by SRF and its affiliates for a cash payment of $7.50 per common share.

On a vote by ballot, the special resolution approving the Arrangement was approved at the Meeting by 84.69% of the votes cast by shareholders voting as a single class and by 54.0% of the votes cast by shareholders after excluding the votes of SRF and its affiliates, as follows:

Total Shares Voted Votes for Votes Against
Plan of Arrangement 7,388,476 84.69% 1,335,460 15.31%

Minority Shares Voted Votes for Votes Against
Plan of Arrangement 1,567,776 54.0% 1,335,460 46.0%


The Company's application to the Supreme Court of British Columbia to obtain the final order approving the Arrangement is scheduled for September 26, 2013.  Assuming final court approval is obtained and that all other conditions to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about September 30, 2013.

For further details of the Arrangement, please see the Company's management information circular dated August 20, 2013, which is available on SEDAR at www.sedar.com.

Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of fruit-based juices and snacks.  Sun-Rype is a publicly traded Canadian company with its common shares listed on the Toronto Stock Exchange under the symbol SRF.  If the Arrangement is completed, SRF, a wholly owned subsidiary of Great Pacific Industries Inc., a significant shareholder of Sun-Rype, will acquire all of the issued and outstanding common shares of Sun-Rype not held by SRF and its affiliates and Sun-Rype will cease to be a public company.

Forward Looking Statements

Statements contained in this press release, which are not based on historical fact, including without limitation, statements containing the words "may", "will", "plans", "intends", "expects", "anticipates", "believes", "estimate", "continue" and similar expressions, constitute "forward looking information" within the meaning of applicable Canadian securities laws.  Forward looking statements contained in this document may involve, but are not limited to, statements relating to obtain the final court order for the Arrangement, the closing of the Arrangement, the Company ceasing to be a public company and the Company's objectives, priorities, strategies, actions, targets, expectations and outlook.  Forward looking statements are necessarily based upon assumptions and predictions with respect to the future, including but not limited to the factors referred to below.  As a result, forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied thereby.  These risks, uncertainties and other factors include, but are not limited to, changes in the consumer packaged goods industry and external market factors, as well as the factors referred to in the Company's Annual Information Form dated March 6, 2013, and its other filings with the applicable Canadian securities regulatory authorities.  In light of these uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward looking statements.  Except as required by law, the Company assumes no obligation to update or revise such information to reflect later events or developments.

SOURCE Sun-Rype Products Ltd.

For further information:

Amanda Burns, CA
Vice President, Finance & CFO
Sun-Rype Products Ltd.
1165 Ethel Street
Kelowna, BC  V1Y 2W4
Tel: (250) 860-7973
Fax: (250) 762-3611
cfo@sunrype.com

or

Dave McAnerney
President & Chief Executive Officer
Sun-Rype Products Ltd.
1165 Ethel Street
Kelowna, BC  V1Y 2W4
Tel: (250) 860-7973
Fax: (250) 762-3611
ceo@sunrype.com

www.sunrype.com