Lassonde Industries acquires Summer Garden Food Manufacturing for $235M

ROUGEMONT — Lassonde Industries has entered into a definitive agreement, through one of its U.S. subsidiaries, with Thomas Zidian and his family to 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, located in Boardman, Ohio, employs approximately 200 people. It develops, manufactures, and markets a range of sauces and condiments, including tomato and cream-based pasta sauces, BBQ sauces, dipping sauces, and dressings. Its product portfolio includes approximately 250 products sold through over 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.

Nathalie Lassonde, CEO and vice-chair of the board of directors of Lassonde Industries said that the acquisition supports the company’s objective to expand its specialty food activities.