Business
Lassonde Industries Inc. completes acquisition of Apple & Eve, LLC of Port Washington, New York
ROUGEMONT, QC , July 25, 2014 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) ...
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\nROUGEMONT, QC, July 25, 2014 /CNW Telbec/ - Lassonde Industries Inc.\n (TSX: LAS.A) (\"Lassonde\") has completed the previously announced\n acquisition of Apple & Eve, LLC of Port Washington, New York, for a\n total cash consideration of US$147.9 million. This amount reflects a\n preliminary adjustment of US$2.1 million to the net working capital on\n the previously announced US$150.0 million consideration and is subject\n to additional adjustments.\n\n\nLassonde has a beneficial ownership of 90% of Apple & Eve. Members of\n the Lassonde family own the remaining 10% equity interest through their\n existing equity interest in the acquiring U.S. subsidiary and a\n proportionate capital contribution to the acquisition financing.\n\n\nThe acquisition and certain fees have been financed as follows:\n US$75.0 million under the term credit facility of a Lassonde U.S.\n subsidiary, US$67.5 million from a combination of cash, cash\n equivalents on hand and Lassonde's Canadian operating credit facility,\n with the remaining US$7.5 million provided by equity investment of\n members of the Lassonde family. Financing fees are estimated at\n US$2.0 million while other fees related to the transaction are\n estimated at US$3.5 million.\n\n\nAbout Apple & Eve\n\n\nApple & Eve is a leading branded juice company in the U.S., with total\n annualized net sales of US$190.0 million and a trailing 12-month\n adjusted EBITDA of US$15.2 million.\n\n\nFounded by the Crane family in 1975, and headquartered in\n Port Washington, NY, the company focuses on healthy and innovative\n juice products. The Company offers more than one hundred different\n juice products sold under its iconic flagship brand name, Apple & Eve,\n and includes a portfolio of sub-brands including Organics, Fruitables,\n Quenchers, Waterfruits and Sesame Street. Additionally, it markets\n juices under its Northland, Seneca and The Switch brands. Apple & Eve\n products are sold in supermarkets, mass merchandisers, warehouse clubs,\n natural food stores, schools and convenience stores across the country.\n For more information, visit www.appleandeve.com.\n\n\nAbout Lassonde Industries Inc.\n\n\nLassonde Industries Inc. is a North American leader in the development,\n manufacture and sale of ...