<p>Canadian Fruit snack and juice manufacturer Sun-Rype has entered into an $94 million agreement with majority owner Great Pacific Industries Inc. to privatize the company, according to the Vancouver Sun.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Great Pacific Industries will pay $7.50 per share for the stake it doesn’t already own. Currently, Great Pacific and affiliates own a 54% stake in Sun-Rype – roughly 5.82 million shares.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">The offer is a 20% premium on the weighted average trading price of the stock.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">The Board of Directors of Sun-Rype has formed a committee of independent directors to, among other things, review and evaluate the terms of the proposal from Great Pacific. The proposed agreement will be voted on at a meeting on September 24.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.vancouversun.com/business/juice+maker+SunRype+signs+deal+with+Great+Pacific+private/8709329/story.html" target="_new"> Sun-Rype Report</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">
