Lassonde Industries Inc. completed the acquisition of Sun-Rype Products Ltd. and its two US affiliates, owned by The Jim Pattison Group, for cash consideration of $ 89.3 million upon completion of closing conditions, including approval from the Competition Bureau. This amount includes $ 9.3 million in preliminary working capital adjustments and other adjustments. As part of the transaction, Lassonde assumed a $ 21 million liability related to long-term leases for the facilities located in Kelowna, British Columbia, as well as in Selah and Wapato, in the state of Washington.
The acquisition was financed by the existing Lassonde credit facility and transaction costs for Lassonde are estimated at $ 1.5 million.
"We are delighted to welcome Sun-Rype employees to the Lassonde team," said Nathalie Lassonde, CEO of Industries Lassonde inc. Both of our organizations have a reputation for excellence in the marketplace as well as a great tradition of innovation and service quality in the area of fruit juice production and food processing. We are pleased to be able to continue growing together. "
"The completion of Lassonde's acquisition of Sun-Rype is an important step in the growth of our respective businesses. It paves the way for the pooling of the talent, expertise and skills of professionals in the food sector, who share common values and who unite to continue to meet the current and future needs of our customers "underlined Jean Gattuso, President and Chief Operating Officer of Industries Lassonde inc.
Source : actualité alimentaire
