Lassonde Acquires U.S. Manufacturer
From: Food in Canada
Rougemont, Que. – Lassonde Industries Inc. has acquired a U.S.-based beverage processor for US$146 million.
Lassonde says in a statement that the company it acquired is Old Orchard Brands LLC, a family owned juice and beverage company based in Sparta, Mich.
Pierre-Paul Lassonde, chairman of the board and CEO of Lassonde, says in the statement that the acquisition will “strengthen our presence in the U.S. national brands sector,” and it fits well in the company’s “growth strategy and improves [Lassonde’s] position in the U.S.”
The acquisition also means an improved footprint for Lassonde in the midwestern U.S., and access to a production line for frozen concentrated products.
Old Orchard Brands was founded in 1985 by fourth-generation growers, Mark and Lisa Saur, and is still today a family owned operation. The company manufactures more than 100 bottled and frozen juice products available across the U.S. and around the world. It employs 100 people.
The statement says Old Orchard Brands had sales of US$103.3 million in 2017.
Lassonde manufactures ready-to-drink fruit and vegetable juices and drinks marketed under brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis, and Rougemont. The company has 14 plants across Canada and the U.S. and employs 2,100 people.