Okanagan-Based Sun-Rype sold to Quebec Company for $89.3 million

Okanagan-Based Sun-Rype sold to Quebec Company for $89.3 million

Lassonde Industries announced the completed acquisition on Friday

A fruit giant in the Okanagan has officially been sold to a Quebec company.

Lassonde Industries announced on Friday that they’ve completed an $89.3 million acquisition of Okanagan-based Sun-Rype Products and its two U.S. affiliates from the Jim Pattison Group.

READ MORE: Sun-Rype Products Ltd. and Mamas for Mamas announce partnership

The deal means that Lassonde assumes $21 million in liabilities around long-term leases related to the Kelowna and two Washington facilities.

While the announcement of the deal was made in late October, the deal wasn’t completed by both parties until recently.

“We are delighted to welcome Sun-Rype’s employees to the Lassonde team,” Lassonde chief executive officer Nathalie Lassonde.

“Both of our organizations have an excellent reputation in the market and a great tradition of innovation and service quality in fruit juice and food processing.”

Between Sept. of 2018 and 2019, Sun-Rype made about $164 million from its fruit-based snacks.

Sun-Rype currently employs around 400 people.


@connortrembley
connor.trembley@kelownacapnews.com

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