ROUGEMONT, QC, Nov. 2 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A-TSX) today announced that its subsidiary A. Lassonde Inc. has completed its purchase of the business of manufacture and distribution of ready-to-drink fruit juices and fruit drinks of McCain Foods (Canada), a division of McCain Foods Limited. The purchased assets include McCain's juice plant in Calgary, Alberta; production equipment currently located in Toronto, Ontario and in Grand Falls, New Brunswick; and certain trademarks as well as a three-year license to use the McCain and other trademarks on specified products.
On October 18, 2007, A. Lassonde announced it was entering into an asset purchase agreement with McCain Foods (Canada) to buy its business of manufacture and distribution of ready-to-drink fruit juices and fruit drinks. The value of inventories and certain other adjustments excluded, the purchase price of the business is $13.5 million.
"This purchase brings us to an important milestone in our business development in western Canada, enabling us to strengthen Lassonde's national positioning," stated Jean Gattuso, President and Chief Executive Officer of A. Lassonde Inc.
McCain Foods (Canada), a division of McCain Foods Limited, is a privately owned company with more than 25 years of experience in manufacturing and marketing ready-to-drink fruit juices and drinks under trademarks that include their best-known Junior Juice, Old South, and Zwak. McCain Foods (Canada) has net sales related to ready-to-drink fruit juices and fruit drinks in the vicinity of $33 million.
A. Lassonde Inc. is a Canadian leader in the development, manufacture, and marketing of an innovative and distinctive range of fruit and vegetable juices and drinks. The Company has numerous trademarks that have acquired an enviable reputation, including Rougemont, Oasis, Fruite, Allen's, Everfresh, and Fairlee.
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