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.
© FoodBev Media Ltd 2020