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Clement Pappas and Company, Inc. has signed an agreement to merge with a subsidiary of Lassonde Industries, with Lassonde owning a controlling interest in the new company and the Pappas family maintaining a significant minority stake.

According to the company, “This strategic combination will enhance our leadership role in the private label beverage industry while developing new capabilities to better serve our customers.”

The announcement notes that “Lassonde Industries is an outstanding company that shares a number of similarities with Clement Pappas. Lassonde is the leading juice company in Canada, with a strong presence in both shelf-stable and refrigerated juices/drinks. Although Lassonde is traded publicly on the Toronto Stock Exchange, the Lassonde family maintains a controlling interest in the company. Both companies stress growth and long-term vision; both have entrepreneurial and resourceful cultures; both are actively engaged in the development of innovative products.”

The new company will be run as a subsidiary of Lassonde Industries, retaining the ‘Clement Pappas’ name, management team and Carneys Point, NJ headquarters.

The closing is expected to take place in August.

Full disclosure: Clement Pappas is a longtime and valued MNB sponsor.
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