Lassonde acquires Summer Garden for US$235M

Lassonde acquire the Zidian Group, which operates Summer Garden Food Manufacturing.

The acquisition is valued at US$235 million, payable at closing. An additional amount of up to US$45 million may be payable over the next three years if certain financial targets and conditions are met.

Summer Garden, Boardman, Ohio, employs approximately 200 people. It develops, manufactures, and markets a range of sauces and condiments, such as tomato and cream-based pasta sauces, BBQ sauces, dipping sauces, and salad dressings. Its product portfolio includes around 250 products sold at more than 20,000 locations under the Gia Russa, Little Italy in the Bronx, and G Hughes brands. Summer Garden also acts as a co-packer for other brands.

“The acquisition of Summer Garden supports our ambition to become a more diversified North American food and beverage company,” said Nathalie Lassonde, CEO and board vice-chair, Lassonde. “Growing our specialty food activities is one of Lassonde’s key strategic objectives and we are happy to have found the right company to help us achieve this objective.”

“This partnership ensures our legacy will continue to thrive,” said Thomas Zidian, president and CEO of Summer Garden. “We are confident it will benefit our customers through enhanced products and will offer our employees new opportunities for development and advancement.”