M&A Deal Summary

Lassonde Acquires Apple & Eve

On July 4, 2014, Lassonde acquired beverage company Apple & Eve from ClearLight Partners for 150M USD

Acquisition Highlights
  • This is Lassonde’s 1st transaction in the Beverages sector.
  • This is Lassonde’s largest (disclosed) transaction.
  • This is Lassonde’s 1st transaction in the United States.
  • This is Lassonde’s 1st transaction in New York.

M&A Deal Summary

Date 2014-07-04
Target Apple & Eve
Sector Beverages
Buyer(s) Lassonde
Sellers(s) ClearLight Partners
Deal Type Add-on Acquisition
Deal Value 150M USD
Advisor(s) Houlihan Lokey (Financial)

Target

Apple & Eve

Port Washington, New York, United States
website
Apple & Eve is the privately held producer of 100% fruit juice products in the United States. The company offers more than one hundred different juice products sold under a number of brands including Apple & Eve, Apple & Eve Organics, Sesame Street, Northland, and Seneca. The Company’s products are sold through a variety of channels including grocery, club, mass merchandise, convenience and foodservice.

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Buyer(S) 1

Buyer

Lassonde

Rougemont, Quebec, Canada

website


Category Company
Founded 1918
Sector Food
Employees2,700
Revenue 2.2B CAD (2022)
DESCRIPTION

Lassonde develops, manufactures, and markets various ready-to-drink fruit and vegetable juices and drinks in Canada, the United States, and internationally. Lassonde Industries, Inc. offers cranberry sauces; and develops, manufactures, and markets specialty food products, including fondue broths and sauces, and pasta sauces. In addition, it imports and markets selected wines; and produces apple cider and cider based beverages. Lassonde was founded in 1918 and is based in Rougemont, Canada.


DEAL STATS #
Overall 1 of 2
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-03 Sun-Rype Products

Kelowna, British Columbia, Canada

Sun-Rype Products Ltd. manufactures and sells a variety of ready-to-drink fruit-based juices and drinks under the Sun-Rype brand and fruit-based snacks under the Sun-Rype, Fruit to Go, FruitSource and Good Bites brands. Sun-Rype Products Ltd. customers include grocery stores, club stores, and mass merchandisers, as well as wholesalers and drug stores.

Buy CA$89M

Seller(S) 1

SELLER

ClearLight Partners

Newport Beach, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 900M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ClearLight Partners LLC is a private equity firm that invests in mid-sized companies with strong cash-flow margins and limited capital intensity. ClearLight looks for US and Canadian headquartered companies with annual revenues between $25 and $250 million and EBITDA of $4 and $15 million. ClearLight targets investments across a broad range of industries with a particular interest in specialty manufacturing and distribution, business services, education and training, healthcare services, specialty finance, and consumer products and services. The Firm's target investment size is $10 to $50 million per transaction. ClearLight Partners was formed in 2000 and is based in Newport Beach, California.


DEAL STATS #
Overall 4 of 10
Sector (Beverages) 1 of 1
Type (Add-on Acquisition) 3 of 6
State (New York) 1 of 1
Country (United States) 4 of 10
Year (2014) 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-17 TASI

Harrison, Ohio, United States

TASI is a manufacturer of highly-engineered leak test and measurement equipment designed to enhance manufacturing efficiency in the automotive, plastics, industrial and pharmaceutical end markets. TASI is headquartered in Cincinnati, OH and dates back to 1981 when the company was founded as Cincinnati Test Systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 PepperBall

Lake Forest, Illinois, United States

PepperBall designs, manufactures, and markets high-quality irritant-filled projectiles and associated air launchers under the industry-leading PepperBall brand. PepperBall’s solutions provide military and law enforcement personnel a safe, effective tool for use in crowd control and one-on-one scenarios. PepperBall was founded in 1999 and is based in Lake Forest, Illinois.

Buy -