Canada’s Lassonde Industries Acquires Michigan’s Old Orchard Brands

Quebec-based Lassonde Industries Inc. announced the acquisition of Old Orchard Brands, a family-owned juice and beverage company for $146 million in cash plus possible milestone payments of $10 million over the next two years. Lassonde will also buy the Sparta, Mich.-based company’s plant and land for $4 million. Lassonde said the acquisition will improve its manufacturing footprint in the midwestern U.S. and provide access to a production line for frozen concentrated products. Old Orchard’s product portfolio includes 100 juices, juice blends, reduced-sugar juice cocktails, seasonal lemonades, and flavored teas. Sales in 2017 were $103.3 million. Lassonde sells RTD fruit and vegetable juices and drinks under brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis and Rougemont.