USA: Lassonde to acquire Summer Garden Food for $235 million

Lassonde, a producer of ready-to-drink fruit and vegetable juices and drinks, has announced it has entered into an agreement to acquire Summer Garden Food, a US-based specialty food manufacturer and distributor, for $235 million.

Founded in 1946, Summer Garden operates as a wholly owned subsidiary of The Zidian Group, manufacturing, marketing and distributing sauces, marinades, dressings and other shelf-stable products. The company has a portfolio of 250 products, with a brand roster that includes G Hughes, Gia Russa, and Little Italy in the Bronx.

Commenting on the deal, Lassonde chief executive officer and vice-chair of the board of directors Nathalie Lassonde said: “The acquisition of Summer Garden supports our ambition to become a more diversified North American food and beverage company. Growing our specialty food activities is one of Lassonde’s key strategic objectives and we are happy to have found the right company to help us achieve this objective”.

The transaction is subject to regulatory clearance and is expected to close within 30 to 45 days.

Source: Lassonde