Canadian Processor Lassonde Agrees to Purchase Summer Garden Food Mfg. Parent, The Zidian Group
Canadian processor Lassonde Industries Inc. has agreed to acquire The Zidian Group, operators of Boardman, Ohio-based Summer Garden Food Manufacturing, a processor of barbecue and pasta sauces, as well as dipping sauces, marinades, dressings and other shelf-stable products.
Lassonde will pay $235 million (U.S. dollars) for Zidian, with an additional US$45 million payable over the next three years should certain financial targets and other conditions be met.
The Ohio processor employs about 200 people, manufacturing approximately 250 products sold under the Gia Russa, Little Italy in the Bronx and G Hughes brands. Summer Garden also co-manufactures products for customers. In the year ending in May 2024, Summer Garden generated sales of $148 million with an adjusted EBITDA of roughly $27.9 million.
Vince Timpano, president and COO of Lassonde Industries, said the deal brings the company closer to its goal of $3 billion in sales, and that “Summer Garden expands our core offering in pasta sauces and extends our reach into new adjacencies.” The company views the Summer Garden business as a new growth platform for Lassonde.
Lassonde manufactures fruit beverages, sauces, soups and broths, snacks, and alcoholic drinks including ciders and wine, both branded and for private label customers.
