Lassonde Industries Inc. is buying U.S. fruit juice and drink company Apple & Eve for US$150-million to strengthen its presence in the United States.
Quebec-based Lassonde says the acquisition of Apple & Eve will also allow it to enter the branded juice business in the U.S.
Apple & Eve, based in Port Washington, N.Y., is a leading independent branded juice company in the U.S., with total annualized net sales of US$190-million.
Lassonde’s juice brands include Allen’s, Oasis, Everfresh, Rougemont and Tropical Grove.
When the transaction closes later this month, Lassonde will have a 90 per cent equity interest in Apple & Eve and members of the Lassonde family will own the remaining 10 per cent equity interest.