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Lassonde Industries Inc. completes the acquisition of Summer Garden Food Manufacturing
Lassonde Industries Inc. completes the acquisition of Summer Garden Food Manufacturing ...
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\n Lassonde Industries Inc. completes the acquisition of Summer Garden Food Manufacturing\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n ROUGEMONT, QC\n \n\n ,\n \n\n Aug. 8, 2024\n \n\n /CNW/ - Lassonde Industries Inc. (TSX: LAS.A) (\"Lassonde\" or the \"Corporation\") has completed, through a 90%-owned U.S. subsidiary, the acquisition of The Zidian Group, which operates Summer Garden Food Manufacturing (\"Summer Garden\"). Located in\n \n Boardman, Ohio\n \n , and employing approximately 200 people, Summer Garden develops, manufactures and markets a wide range of premium sauces and condiments, including tomato and cream-based pasta sauces, BBQ sauces, dipping sauces and dressings. Its portfolio consists of approximately 250 products sold through more than 20,000 locations under the\n \n Gia Russa\n \n and\n \n Little\n \n Italy\n \n in the\n \n Bronx\n \n\n brands and under the\n \n G Hughes\n \n brand, a leader in the U.S. sugar-free BBQ sauce segment. Summer Garden also acts as a co-packer for well-known brands. For the 12-month period ending in\n \n May 2024\n \n , Summer Garden generated sales of approximately\n \n US$148.0 million\n \n and adjusted EBITDA\n \n 1\n \n of approximately\n \n US$27.9 million\n \n .\n \n\n \"We are delighted to welcome Summer Garden's employees and management to the Lassonde organization, and we look forward to leveraging our combined expertise,\" said\n \n Nathalie Lassonde\n \n , Chief Executive Officer and Vice-Chair of the Board of Directors of Lassonde Industries Inc. \"This acquisition marks an important step in the execution of our strategy by significantly expanding the scope of our North American specialty food business and creating a new growth platform for Lassonde.\"\n \n\n \"This ac...