CANADA/US: Lassonde Industries completes US$148m Apple & Eve buy
Canada's Lassonde Industries has finalised its US$147.9m takeover of US juice maker Apple & Eve.
The deal, which was first announced earlier this month, gives Lassonde 90% ownership of Apple & Eve. Members of the Lassonde family own the remaining 10%.
The acquisition was initially priced at $150m, however the new figure reflects an adjustment of $2.1m and is subject to additional adjustments, the two companies said in a statement.
The Port Washington, New York-headquarted Apple & Eve was founded in 1975 and has annual net sales of $190m and EBITDA of $15.2m. It makes about 100 juice products sold under its flagship brand name, Apple & Eve. It also owns and markets juices under Northland, Seneca and The Switch brands.
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