Fruit & Vegetable Magazine

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Lassonde acquires U.S. company


June 27, 2011
By The Canadian Press

Topics

June
20, 2011, Rougemont, Que – Beverage and specialty food maker Lassonde
Industries Inc. recently announced that it is acquiring privately-owned Clement
Pappas and Co. Inc. of New Jersey for US$390 million cash.

June
20, 2011, Rougemont, Que – Beverage and specialty food maker Lassonde
Industries Inc.
recently announced that it is acquiring privately-owned Clement
Pappas and Co. Inc.
of New Jersey for US$390 million cash.

The
transaction is expected to close in August, the company said.

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Under
the deal, Lassonde will have a beneficial ownership of 71 per cent of Clement
Pappas
. Of the remaining 29 per cent, 19 per cent will be held by the Pappas
family and 10 per cent by the Lassonde family.

Clement
Pappas
, based in Carneys Point, N.J., is the second largest producer of store
brand ready-to-drink fruit juices and drinks in the United States. It employs
more than 600 people.

Lassonde,
based in Rougemont, Que., employs some 1,300 people.


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