Lassonde Industries, a Canadian food and beverage company, is set to acquire Summer Garden Food Manufacturing, a U.S.-based company that specializes in premium sauces and condiments. The deal is valued at $235 million, with an additional amount of up to $45 million payable over the next three years based on financial targets. Summer Garden Food Manufacturing offers a portfolio of approximately 250 products, which are sold through over 20,000 locations. The acquisition is expected to be completed within the next 30 to 45 days [a21b7f8d].
This acquisition aligns with Lassonde Industries' strategy to expand its presence in the specialty food market. Summer Garden Food Manufacturing's expertise in premium sauces and condiments will complement Lassonde's existing product portfolio. The acquisition will also provide Lassonde with access to a wider customer base through Summer Garden's extensive distribution network. Lassonde Industries continues to pursue growth opportunities in the food and beverage industry [a21b7f8d].