ROUGEMONT, QC, June 27, 2014 /CNW Telbec/ - Lassonde Industries Inc.
(TSX: LAS.A) ("Lassonde") has acquired the shares of Clement Pappas and
Company, Inc. ("CPC") held by Clement David Pappas. The purchase price
of US$ 11.1 million was paid cash and funded out of Lassonde's working
"This additional investment in CPC reinforces our US presence and
represents another building block from which to grow our business,"
said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive
Officer of Lassonde Industries Inc.
Lassonde's equity interest in CPC is thereby increased from 84.0% to
90.0%. The remaining 10.0% is held by members of the Lassonde family.
Clement David Pappas has stepped down from his position on the Board of
Directors of CPC and his role as Special Advisor. "We would like to
thank Clement for his work on the Board and wish him great success in
his future endeavours," said Jean Gattuso, Chairman of Clement Pappas
and Company, Inc.
About Lassonde Industries Inc.
Lassonde Industries Inc. is a North American leader in the development,
manufacture and sale of a wide range of fruit and vegetable juices and
drinks marketed under brands such as Everfresh, Fairlee, Flavür,
Fruité, 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 sauces.
Lassonde also develops, manufactures and markets specialty food products
under brands such as Antico and Canton. The Company imports and markets
selected wines from various countries and manufactures apple ciders and
The Company produces superior quality products through the efforts of
some 2,000 people working in 14 plants across Canada and the United
States. To learn more, visit www.lassonde.com.
SEDAR registration number: 00002099
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements that are based on
certain assumptions. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations. Additional
factors are discussed in materials filed from time to time with the
securities regulatory authorities in Canada. Lassonde Industries Inc.
disclaims any intention or obligation to update or revise any
forward-looking statements except as required by law.
SOURCE: Lassonde Industries Inc.
For further information:
Guy Blanchette, FCPA, CA
Executive Vice-President and Chief Financial Officer
Lassonde Industries Inc.
450-469-4926, extension 10782
Lassonde Industries Inc.
450-469-4926, extension 10265