Summer time Graden Good Manufacturing, which is owned and operated by Thomas Zidian and his household, has lately been bought to a subsidiary of a Canadian firm for $235 million.

The corporate was bought to Lassonde Industries, which develops a variety of personal label and nationwide model merchandise. This embody drinks, soups, fruit snacks and frozen juice concentrates. It additionally imports wines from a number of completely different international locations.

Lassonde operates 18 vegetation in Canada and the USA and employs 2,700 full-time equal workers.

Along with the massive sale, $45 million could also be payable on the closing of the deal over the following three years, which remains to be topic to regulatory approval and different closing circumstances, in response to a information launch from Lassonde.

“The acquisition of Summer time Backyard helps our ambition to develop into a extra diversified North American meals and beverage firm,” mentioned Nathalie Lassonde, Chief Govt Officer and Vice-Chair of the Board of Administrators of Lassonde Industries Inc. “Rising our specialty meals actions is one among Lassonde’s key strategic aims and we’re pleased to have discovered the best firm to assist us obtain this goal.”

Summer time Gardens makes all kinds of merchandise together with sauces, dressings and condiments.

The sale is anticipated to shut with 20 to 45 days.