ROUGEMONT, QC, Nov. 26 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A-TSX) today announced that its subsidiary Lassonde Specialties Inc., a manufacturer of specialty food products best known under the CANTON trademark, has completed its previously announced purchase of the business and related assets of Mondiv Food Products Inc. The purchased assets include a production plant in Boisbriand, Quebec, the ANTICO trademark, and Mondiv's working capital. The purchase price of the assets is $18.9 million subject to usual adjustments.
"This acquisition should enable Lassonde Specialties Inc. to diversify its current product line and packaging offering, to enhance its product development capability, and to extend its market to North America as a whole," stated Jean Messier, President and Chief Executive Officer of Lassonde Specialties Inc.
Mondiv Food Products Inc. is a leading private label manufacturer of long-shelf-life specialty food products sold primarily to U.S. and Canadian food chains and distributors. The primarily glass-jar products are processed at the Boisbriand plant and include mainly pasta and other specialty sauces, bruschetta, tapenades, and artichoke antipastos. The state-of-the-art plant is USDA compliant, HACCP approved, and certified organic by the Quality Assurance Institute (QAI). Mondiv has net sales of $25 million, to U.S. and Canadian customers.
Lassonde Specialties' mission is the development, manufacturing, and marketing of unique food products for niche markets.
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