Lassonde completes its purchase of McCain Foods (Canada)'s ready-to-drink fruit juice and fruit drink business

About this update from Lassonde Industries, Inc. Class A

[{"type":"text","content":"\n\n\n\nROUGEMONT, QC, Nov. 2 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A-TSX)\ntoday announced that its subsidiary A. Lassonde Inc. has completed its\npurchase of the business of manufacture and distribution of ready-to-drink\nfruit juices and fruit drinks of McCain Foods (Canada), a division of McCain\nFoods Limited. The purchased assets include McCain's juice plant in Calgary,\nAlberta; production equipment currently located in Toronto, Ontario and in\nGrand Falls, New Brunswick; and certain trademarks as well as a three-year\nlicense to use the McCain and other trademarks on specified products.\n\n\nOn October 18, 2007, A. Lassonde announced it was entering into an asset\npurchase agreement with McCain Foods (Canada) to buy its business of\nmanufacture and distribution of ready-to-drink fruit juices and fruit drinks.\nThe value of inventories and certain other adjustments excluded, the purchase\nprice of the business is $13.5 million.\n\n\n"This purchase brings us to an important milestone in our business\ndevelopment in western Canada, enabling us to strengthen Lassonde's national\npositioning," stated Jean Gattuso, President and Chief Executive Officer of\nA. Lassonde Inc.\n\n\nMcCain Foods (Canada), a division of McCain Foods Limited, is a privately\nowned company with more than 25 years of experience in manufacturing and\nmarketing ready-to-drink fruit juices and drinks under trademarks that include\ntheir best-known Junior Juice, Old South, and Zwak. McCain Foods (Canada) has\nnet sales related to ready-to-drink fruit juices and fruit drinks in the\nvicinity of $33 million.\n\n\nA. Lassonde Inc. is a Canadian leader in the development, manufacture,\nand marketing of an innovative and distinctive range of fruit and vegetable\njuices and drinks. The Company has numerous trademarks that have acquired an\nenviable reputation, including Rougemont, Oasis, Fruite, Allen's, Everfresh,\nand Fairlee.\n\n\n%SEDAR: 00002099EF\n\n\n","length":2015,"tagName":"div"}]

More updates from Lassonde Industries, Inc. Class A