The private shareholders of Suntava Corporation have sold the company to Healthy Food Ingredients, LLC (HFI) for an undisclosed consideration.
HFI is a specialty ingredient company that provides non-GMO organic, gluten free and identity-preserved ingredients to domestic and international customers in the food and pet food manufacturing and food service industries. HFI is the parent company of SK Food International and Hesco/Dakota Organic Products. The company was founded in 2013 and is based in Fargo, North Dakota. HFI was formed in response to increasing industry and consumer demand for ingredients which promote health and wellness, and continues its growth through acquisitions and new, innovative ingredients. HFI operates as a subsidiary of Hesco Inc.
Suntava is a plant-based specialty ingredients company best known for its proprietary Suntava® Purple Corn (a natural non-GMO hybrid). Suntava Purple Corn is used as an ingredient in functional foods, beverages, nutraceuticals and cosmeceuticals, as well as being a natural colorant for food and beverages. Suntava is the first US company to research, grow and commercialize this naturally high-antioxidant corn, derived from ancient strains of Andean maize. Suntava's purple corn is sold as a whole kernel, flour, meal, grits, masa flour, IQF and freeze-dried fresh purple corn. It is used in various applications including cereals, snack foods, baked goods, beverages, dietary supplements, skin care and pet food blends.
Oaklins' team in Jacksonville advised the seller in this transaction.
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