Lassonde Industries has entered an agreement to acquire Canadian fruit-based snack and beverage manufacturer Sun-Rype from the Jim Pattison Group for $80 million.
As part of the deal, Lassonde will assume ownership of Sun-Rype’s plants in Kelowna, Selah and Wapato.
According to Lassonde, the acquisition will strengthen its presence in the branded juice and drinks sectors in Western Canada and North-Western US. It also aims to enhance both companies’ commercial network to improve its support to national retailers in Canada.
Sun-Rype manufactures and sells a variety of ready-to drink fruit-based drinks and snacks, under its brands Sun-Rype, Fruit to Go, FruitSource and Good Bites.
Owner of brands such as Apple & Eve, Old Orchard and Rougemont, Lassonde is a North American manufacturer and seller of ready-to-drink fruit and vegetable juices. The company also manufactures apple ciders and cider-based beverages and has 15 plants established across Canada and the US.
“Sun-Rype is a recognised and respected brand in the market, and Lassonde intends to keep it alive for a very long time,” said Jean Gattuso, president and chief operating officer of Lassonde Industries.
Gattuso added: “By joining forces, Lassonde and Sun-Rype will be well positioned to become a leading fruit-based snack and beverage company in Canada and the US. Hence, they will be able to provide a greater range of products to all Canadian and US consumers and retailers from coast to coast.”
President of Sun-Rype Lesli Bradley said: “Lassonde’s rich history in the marketplace and its growth and diversification makes it a strong leader in the industry. Adding the Sun-Rype brand and infrastructure to Lassonde will strengthen Sun-Rype and provide it, its employees and customers with great opportunities for the future.”
The deal is expected to close towards the end of 2019 subject to customary conditions.
By Emma Upshall
Source: FoodBev
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