One of the Okanagan Valley’s largest brands has changed hands in a USD89.3 million agreement. Sun-Rype Products Ltd. was founded in 1946, and produces juices and fruit snacks in Kelowna and the Okanagan Valley. It also operates two other facilities in Washington.
Lassonde Industries Inc., which is based in Quebec, announced that they have completed the acquisition of Sun-Rype and its two US affiliates from The Jim Pattison Group for USD89.3 million, further to the satisfaction of closing conditions. Lassonde entered an agreement to acquire Sun-Rype back in October, 2019.
The amount includes USD9.3 million in preliminary working capital adjustments, and as part of the transaction, Lassonde assumed USD21 million in liabilities related to long-term leases for the three facilities. KelownaNow