Canadian food and beverage group Lassonde Industries has announced that its niche foods subsidiary, Lassonde Specialties Inc., has completed the C$18.9m (US$19.0m) acquisition of Mondiv Food Products, which produces shelf-stable specialty products for the Canadian and US private-label markets.
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The purchased assets include a production plant in Boisbriand, Quebec, the Antico trademark, and Mondiv’s working capital. Lassonde said the purchase price would be subject to usual adjustments.
“This acquisition should enable Lassonde Specialties Inc. to diversify its current product line and packaging offering, to enhance its product development capability, and to extend its market to North America as a whole,” said Jean Messier, president and CEO of Lassonde Specialties.
Mondiv, which principally produces glass-jar products such as pasta and other specialty sauces, bruschetta, tapenades, and artichoke antipastos, has net annual sales of around $25m.
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