Lassonde, a producer of ready-to-drink fruit and vegetable juices and drinks, has announced that it has agreed a deal to acquire family-owned juice firm Old Orchard Brands for $146 million.
Old Orchard Brands is headquartered in Sparta, MI and posted sales of $103.3 million for its 2017 fiscal year. Old Orchard is described as a leading brand in the shelf-stable fruit juice category across the central United States and the nation’s second largest brand in frozen juice concentrates. Altogether, the firm manufactures over 100 products including 100% juice, reduced-sugar juice cocktails, seasonal lemonades and flavoured teas.
Lassonde said the deal would improve Lassonde’s manufacturing footprint in the Midwestern USA, strengthen its presence in the national brands juice sector, and provide access to a production line for frozen concentrated products.
Commenting on the deal, Lassonde chairman and chief executive officer Pierre-Paul Lassonde said: “Adding the Old Orchard brand to our product portfolio will further strengthen our presence in the U.S. national brands sector. This transaction fits well within our sustained growth strategy and improves our overall position in the United States”.
Source: Lassonde (via Cision)