Canada-based food manufacturing company Lassonde Industries has completed the acquisition of American juice company Apple & Eve, in a previously announced deal worth $150m.
Earlier this month, an agreement to this effect was signed by Lassonde, through its subsidiary US Juice Partners.
Through the acquisition, the company owns 90% stake in Apple & Eve, while the remaining 10% stake is owned by Lassonde family members through their existing equity interest in the acquiring US subsidiary.
As previously announced, Lassonde will now have access to Apple & Eve's logistics, distribution, and purchasing assets.
Of the $150m transaction amount paid, around $75m was financed under the term credit facility of a Lassonde US subsidiary, $67.5m from a combination of cash, cash equivalents on hand and Lassonde's Canadian operating credit facility.
The remaining $7.5m was provided by equity investment of members of the Lassonde family.
Apple & Eve produces and markets various juices. The company offers pure and natural juice blends, juice boxes, organic juices, cranberry juices, water fruits juices, and fruit (apple) and vegetable juice beverages, as well as mixed berry, grape, and fruit punch juices.
