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Lassonde Industries Inc. to acquire U.S. based Summer Garden Food Manufacturing to strengthen position in specialty food segment

Jun 21, 2024•over 1 year ago

Acquiring Company

Lassonde Industries

Acquired Company

Summer Garden Food Manufacturing

RougemontBoardmanFood ProcessingFood and BeverageManufacturingFood and BeverageManufacturing

Description

Lassonde Industries Inc. has entered into a definitive agreement to acquire U.S.-based Summer Garden Food Manufacturing, a manufacturer and distributor of specialty food. This acquisition is part of Lassonde's strategic objective to grow its specialty food activities and diversify its presence in the North American food and beverage industry. The transaction is expected to enhance Lassonde's product offerings, market presence, and overall growth potential.

Company Information

Company

Lassonde Industries

Location

Rougemont, Quebec, Canada

About

Lassonde Industries Inc. develops, manufactures and markets a wide range of ready-to-drink fruit and vegetable juices and drinks. The Company is the second largest producer of store brand shelf-stable fruit juices and drinks in the United States and a major producer of cranberry sauces. Furthermore, the Company develops, manufactures and markets specialty food products such as fondue broths and sauces and pasta sauces. It also imports selected wines from several countries of origin for packaging and marketing purposes. It also produces apple cider and cider-based beverages.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed