SUN-RYPE ANNOUNCES ACQUISITION OF NAUMES CONCENTRATES

TSX: SRF

KELOWNA, BC, June 13, 2011 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) ("Sun-Rype" or the "Company") announced today that it has entered into an agreement to acquire the business and assets of Naumes Concentrates, Inc., ("Naumes") of Wapato, Washington.  The transaction, which is subject to certain closing conditions, is expected to close June 30, 2011.

Naumes has been a trusted supplier of apple and other juice concentrates to Sun-Rype for several years.  It has developed a reputation in the concentrate industry for high quality products, outstanding service and dependability with major food manufacturers throughout the United States.  The facility is organic and kosher certified, with annual sales of approximately US$11 million.

"This acquisition, in combination with our recent acquisition of Yakama Juice, will fuel Sun-Rype's growth through innovative manufacturing and marketing of high quality, fruit-based food and beverage products, supported by Naumes's broader range of fruit processing capabilities," stated Dave McAnerney, President and Chief Executive Officer of Sun-Rype.  "We believe this expansion in our overall fruit processing will enable Sun-Rype to optimize our manufacturing costs and partially mitigate the impact of global fruit concentrate fluctuations."

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.

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 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 18, 2011, 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.

 

www.sunrype.com

SOURCE Sun-Rype Products Ltd.

For further information:

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

 


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