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Lassonde Industries boosts profit to $10.3 million


November 12, 2012
By The Canadian Press

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November 12, 2012, Montreal, Que – Juice maker Lassonde Industries has posted a third-quarter profit of $10.3 million, up from $8.2 million in the same quarter last year.

Earnings per share were $1.48 versus $1.20 year-over-year, company officials said.

Sales were up 21 per cent to $255.1 million from $211 million.

“The third-quarter 2012 results reflect markets that continue to be affected by high raw material costs,” chief executive Pierre-Paul Lassonde said in a news release.

“The Clement Pappas acquisition has helped us sustain our growth but lower volumes are being experienced by the fruit juice and fruit drink industry in both Canada and the U.S.,” he said.

Lassonde bought the New Jersey-based juice producer Clement Pappas and Co. Inc. for $390 million (US) in 2011.

Lassonde is headquartered in Rougemont, Que., and develops, manufactures and sells of a wide range of fruit and vegetable juices and drinks marketed under brands such as Everfresh, Fairlee, Flavur, Fruite, Graves, Oasis and Rougemont.

Lassonde is also the second-largest producer of store brand ready-to-drink fruit juices and drinks in the United States and a major producer of cranberry juices, drinks and sauces.


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