Lassonde Industries Inc. announced in October 2019 that two of its subsidiaries have entered into an agreement with subsidiaries of The Jim Pattison Group to acquire Sun-Rype Products Ltd. in Kelowna and its two U.S. affiliates located in Washington State for approximately $80 million.
Sun-Rype generated sales of approximately $164 million and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of approximately $9 million for the 12-month period ending on Sept. 30, 2019.
Jean Gattuso, president of Lassonde Industries Inc. said, in a news release, “Sun-Rype is a recognized and respected brand in the market and Lassonde intends to keep it alive for a very long time…By joining forces, Lassonde and Sun-Rype will be well positioned to become a leading fruit-based snack and beverage company in Canada and the U.S. Hence, they will be able to provide a greater range of products to all Canadian and U.S consumers and retailers from coast to coast.”
