Purity Life president and CEO, Matthew James, who has invested alongside Banyan, will continue to run the company.
Banyan Capital Partners managing director Jeff Wigle said the company sees an opportunity for Purity Life to build on its strong position in the natural health care product space in Canada through both consolidation within the industry as well as organic growth.
Earlier, SunOpta president and chief executive Steve Bromley had noted that the deal completes the company's exit from the distribution business and simplifies and enables it to focus on strengthening its balance sheet and position itself for future growth opportunities.
