The company signed a memorandum of understanding with Shanghai Jinqiao EPZ Scientific Development Co. Ltd. to produce and sell its juices in the Asian country.
With a plant located in the Jinqiao Export Processing Zone in Pudong, Sun-Rype invested 65% of the $13 million project cost and anticipated to be selling its juices by the end of 1995.
[9] This expansion plan almost immediately started to falter, and in 1997, Sun-Rype was forced to create a new joint venture with Lion Group, a Malaysian conglomerate.
With this deal in place, Sun-Rype received land, equipment, and future working capital, while Lion Group took over ownership of the Asian subsidiary.
[10] By 1998, after net losses of $5.8 million in 1997, the venture was not proving to be profitable, so in March of that same year, Sun-Rype decided to pull out of the Chinese market.
[14] The reasons behind this attempt were to immediately double Clearly Canadian's revenues and give it use of Sun-Rype's bottling plant, thus centralizing its production facilities.
[19] With the final bid deadline fast approaching, Clearly Canadian used many tactics in an attempt to gain more shares, including sending out circulars, hosting public receptions, and talking to community press.
[20][21] The hostile takeover attempt by Clearly Canadian proved how unsatisfied shareholders were with Sun-Rype management styles and caused differences within the company, apple growing community, and investors.
[25] On October 29, 2019, The Jim Pattison Group sold its wholly owned subsidiary Sun-Rype to Lassonde Industries Inc. for CA$80 million, in an all cash deal expected to close before the end of the current calendar year.