Lassonde, the Canadian agri-food firm, has announced it has entered into an agreement to acquire Sun-Rype, a fruit-based snack and drinks maker, for a cash consideration of approximately C$80 million ($61 million).
Founded in 1946, Sun-Rype produces juices and fruit snacks in Kelowna, BC, and also operates facilities in Selah and Wapato in the USA’s Washington state. The company manufactures and sells a variety of ready-to-drink fruit based juices and drinks under the Sun-Rype brand, as well as fruit-based snacks under the Sun-Rype, Fruit to Go, FruitSource and Good Bites brands.
Commenting on the deal, Lassonde CEO Nathalie Lassonde said: “Sun-Rype and Lassonde are two great Canadian companies with decades of strong presence in the food and beverage industry in North America. This transaction is part of our strategy of constant and measured growth”.
Lassonde also said the deal would improve its manufacturing footprint in western Canada and in the north west of the USA, as well as further strengthen its presence in the Canadian branded juices and drinks sector.