McCain Foods Canada sells aseptic juice business to Lassonde

Fruit juice maker Lassonde Industries Inc. (TSX:LAS.A) is buying McCain Foods Canada’s aseptic beverage business in a $13.9 million deal that will eliminate 25 jobs.

The agreement involves moving production equipment from Toronto to Grand Falls, N.B., where 25 positions will be cut after the sale is completed, McCain said.

Lassonde will also acquire a juice plant in Calgary, trademarks and licensed use of the McCain trademark for periods of up to three years.

All the Calgary plant employees will be offered continued employment by Lassonde, and there are no reductions planned in Toronto.
 

McCain will continue to produce its Old South and McCain brand frozen juice concentrates, as well as its Cool Quenchers.