Business
Lassonde to acquire assets of McCain Foods (Canada) related to the manufacture and marketing of ready-to-drink fruit juices and fruit drinks
Lassonde to acquire assets of McCain Foods (Canada) related to the manufacture and marketing of ready-to-drink fruit juices and fruit drinks.
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\nROUGEMONT, QC, Oct. 18 /CNW Telbec/ - A. Lassonde Inc. and parent company\nLassonde Industries Inc. (LAS.A-TSX), a fruit juice and fruit drink\nmanufacturer with its head office in Rougemont, Quebec, announce that\nA. Lassonde Inc. has concluded an agreement to acquire assets related to the\nmanufacture and marketing of ready-to-drink fruit juices and fruit drinks of\nMcCain Foods (Canada), a division of McCain Foods Limited, for approximately\n$13.9 million. Lassonde is also to acquire certain inventories the value of\nwhich remains to be determined. Among the acquired assets are a juice plant in\nCalgary, Alberta; production equipment to be transferred from Toronto, Ontario\nand from Grand Falls, New Brunswick; and trademarks, as well as licensed use\nof the McCain trademark for periods of up to three years.\n\n\nA. Lassonde Inc. and Lassonde Industries Inc. will finance the\nacquisition by increasing existing credit facilities with their lenders.\nClosing is scheduled for November 2, 2007.\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\nbest-known Junior Juice, Old South, and Zwak. McCain Foods (Canada) has net\nsales related to manufacturing and marketing ready-to-drink fruit juices and\nfruit drinks in the vicinity of $33 million. The company has about\n50 employees in this sector at its Calgary plant.\n\n\nAs Jean Gattuso, President and Chief Executive Officer of A. Lassonde\nInc. pointed out, "This acquisition should enable A. Lassonde Inc. to\nconsolidate its presence in the Canadian fruit juice and fruit drink industry,\nespecially in the retail sales and food service sectors in western Canada,\nstrengthening the national positioning of A. Lassonde Inc. while adding to a\ntrademark portfolio that already includes prestigious brands such as\nRougemont, Oasis, Fruite, Allen's,(1) Everfresh, and Fairlee." The new entity\nwill be called Lassonde Western Canada and will become a division of A.\nLassonde Inc.\n\n\n1- Trademark for which Lassonde Industries Inc. is a licensed user.\n\n\n%SEDAR: 00002099EF\n\n\n","length":2289,"tagName":"div"}]