trending Market Intelligence /marketintelligence/en/news-insights/trending/OXqKtetUXDwpOXvNK0IPmw2 content esgSubNav
In This List

Lassonde completes acquisition of snack maker Sun-Rype

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model


Lassonde completes acquisition of snack maker Sun-Rype

Lassonde Industries Inc. said Jan. 3 that it completed its acquisition of snack and beverage maker Sun-Rype Products Ltd. and its two affiliates in the U.S.

The Canadian agri-food company bought Sun-Rype and its associated businesses from The Jim Pattison Group for C$89.3 million in cash, including C$9.3 million in preliminary working capital adjustments.

Sun-Rype, which was founded in 1946, recorded sales of approximately C$164 million and an adjusted EBITDA of about C$9 million for the year ended Sept. 30, 2019.

As part of the deal, Lassonde assumed C$21 million in liabilities related to long-term leases for the facilities in Kelowna, British Columbia, and Selah and Wapato, Wash.

"Both of our organizations have an excellent reputation in the market and a great tradition of innovation and service quality in fruit juice and food processing. We are pleased to be able to pursue our growth together," Lassonde CEO Nathalie Lassonde said.

Lassonde funded the deal with its existing credit facility. The company estimates the transaction costs are about C$1.5 million.