Lassonde Industries Inc. (T.LAS.A) hit a new 52-week high of $73.00 Monday. Lassonde Industries Inc. announced today that it has entered into a definitive agreement, with members of the Pappas and Lassonde families, to acquire privately-owned Clement Pappas and Company, Inc. of Carneys Point, New Jersey, for a total cash consideration of $390-million U.S. payable at closing, subject to adjustments for working capital and other items.
Upon closing of the transaction, expected to occur in August 2011, Lassonde Industries will have a beneficial ownership of 71% of Clement Pappas. Of the remaining 29%, 19% will be held by members of the Pappas family and 10% by members of the Lassonde family.
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