Business
Lassonde Industries Inc. increases stake in Clement Pappas and Company, Inc.
ROUGEMONT, QC , June 27, 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, June 27, 2014 /CNW Telbec/ - Lassonde Industries Inc.\n (TSX: LAS.A) (\"Lassonde\") has acquired the shares of Clement Pappas and\n Company, Inc. (\"CPC\") held by Clement David Pappas. The purchase price\n of US$ 11.1 million was paid cash and funded out of Lassonde's working\n capital.\n\n\n\"This additional investment in CPC reinforces our US presence and\n represents another building block from which to grow our business,\"\n said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive\n Officer of Lassonde Industries Inc.\n\n\nLassonde's equity interest in CPC is thereby increased from 84.0% to\n 90.0%. The remaining 10.0% is held by members of the Lassonde family.\n\n\nClement David Pappas has stepped down from his position on the Board of\n Directors of CPC and his role as Special Advisor. \"We would like to\n thank Clement for his work on the Board and wish him great success in\n his future endeavours,\" said Jean Gattuso, Chairman of Clement Pappas\n and Company, Inc.\n\n\nAbout Lassonde Industries Inc.\n\n\nLassonde Industries Inc. is a North American leader in the development,\n manufacture and sale of a wide range of fruit and vegetable juices and\n drinks marketed under brands such as Everfresh, Fairlee, Flavür,\n Fruité, Graves, Oasis and Rougemont.\n\n\nLassonde is also the second largest producer of store brand\n ready-to-drink fruit juices and drinks in the United States and a major\n producer of cranberry sauces.\n\n\nLassonde also develops, manufactures and markets specialty food products\n under brands such as Antico and Canton. The Company imports and markets\n selected wines from various countries and manufactures apple ciders and\n wine-based beverages.\n\n\nThe Company produces superior quality products through the efforts of\n some 2,000 people working in 14 plants across Canada and the United\n States. To learn more, visit www.lassonde.com.\n\n\nSEDAR registration number: 00002099\n\n\nCaution Concerning Forward-Looking Statements\n\n\nThis press release contains forward-looking statements that are based on\n certain assumptions. These forward-looking statements are subject to a\n number of risks and uncertainties that could cause actual results or\n events to differ materially from current expectations. Additional\n factors are discussed in material...