ROUGEMONT, QC, March 15, 2021 /CNW Telbec/ - Lassonde Industries
Inc. (TSX: LAS.A) ("Lassonde") announced today that
Jean Gattuso has decided to step
down on September 30, 2021 as part of the succession process
that was planned in collaboration with the Company. Until that
date, Mr. Gattuso will continue acting as President and Chief
Operating Officer of Lassonde Industries, President and Chief
Executive Officer of the subsidiaries A. Lassonde, Lassonde
Specialities and Vins Arista, and
Chairman of the Board of Directors of Lassonde Pappas, the business's U.S.
subsidiary.
"On behalf of the members of management, the Board of Directors
of Lassonde and all of our Canadian and American employees, we
express our heartfelt gratitude to Jean
Gattuso for his commitment and exceptional contribution to
the growth and expansion of Lassonde over the last 34 years,"
said Nathalie Lassonde, President
and Chief Executive Officer, and Pierre-Paul Lassonde, Chairman of the Board of
Directors.
"I thank the Lassonde family for having supported my
entrepreneurial skills in the agri-food industry. Leading Lassonde
Industries has been a privilege. My contribution these last
34 years has been extremely gratifying, both professionally
and personally. I have no doubt that the knowledge I acquired
during my years in the private sector and the support of my network
will contribute to my future projects. It is time for me to take on
new challenges that will benefit Canadians and to spend time with
my family," declared Mr. Gattuso.
Under the leadership of Jean
Gattuso, Lassonde conquered new markets, made several
acquisitions and considerably developed its manufacturing
footprint. When he arrived in 1987, Lassonde operated mainly in
Quebec and generated approximately
$80 million in sales. Today, the Company holds a leading
position in Canada and
the United States. Lassonde boasts
more than 2,700 employees and operates 17 plants in
Canada and the United States. Its sales in the last
12 months as at September 30, 2020, stood at
$1,898.0 million, while its
adjusted earnings before interest, income taxes, depreciation, and
amortization (Adjusted EBITDA) for that same period stood at
$199.5 million.
Mr. Gattuso also helped build a solid and talented team of
seasoned professionals and rising stars, and played a role in
developing the business's succession plan so that it could pursue
its growth. Mr. Gattuso, who holds an MBA, sits on the boards
of directors of Investissement Québec; Food, Health & Consumer
Products of Canada; and Tablée des
Chefs. Over the course of his career, he has contributed to the
work of the Conseil de la transformation alimentaire du Québec
(CTAQ), which he co–founded, Tel-jeunes and Fondation de la Société
des soins palliatifs à domicile de Montréal.
Pursuant to the above-mentioned succession plan, the Company
intends to announce the appointment of Mr. Gattuso's successor
at the same time as its annual results, which are scheduled to be
published next March 26th.
The Company is expecting its fourth quarter sales to increase
slightly, and its operating results to drop somewhat, compared to
those of the third quarter of 2020.
About Lassonde
Lassonde Industries Inc. is a North American leader in the
development, manufacture and sale of a wide range of ready-to-drink
juices and drinks marketed under brands such as
Apple & Eve, Everfresh, Fairlee, Fruité, Graves,
Oasis, Old Orchard, Rougemont and
Sun-Rype. Lassonde is the largest producer of fruits and vegetable
juices and drinks in Canada, and
one of the two largest producers of store-brand fruit juices and
drinks in United States. It is
also a major producer of cranberry sauces. The Company also
produces fruit-based snacks in the form of bars and bites.
Lassonde also develops, manufactures and markets specialty food
products under brands such as Antico and Canton. The Company also
imports and markets selected wines from various countries and
manufactures apple ciders and cider-based beverages.
The Company operates 17 plants in Canada and the
United States and relies on the expertise of more than
2,700 employees to offer superior-quality products. To learn
more, visit www.lassonde.com.
Caution concerning forward-looking statements
In this document and in other documents filed with Canadian
regulatory authorities or in other communications, the Company may
from time to time make written or oral forward-looking statements
within the meaning of applicable securities legislation.
Forward-looking statements notably include estimates, expectations,
forecasts, and projections of future investment spending, revenues,
earnings, profit, indebtedness, financial position, losses,
upcoming projects, business and management strategies, and business
growth and expansion. In the context of this document,
forward-looking statements are particularly used to discuss
preliminary results, the rate of sales growth, and profit
attributable to shareholders. The forward-looking statements
contained herein are used to help readers better understand
Lassonde's financial position and the results of its operations as
at the date presented and may not be appropriate for other
purposes. Forward-looking statements can be recognized by such
words as "may," "should," "believes," predicts," "plans,"
"expects," "intends," "anticipates," "estimates," "projects,"
objective," "continues," "proposes," "targets" or "aims" as well as
words and expressions of a similar nature and whether they are used
in the affirmative or the negative or in the conditional or future
tense. Forward–looking statements also include any statements that
do not refer to historical facts.
By their very nature, forward-looking statements are based
assumptions and involve inherent risks and uncertainties, both
general and specific in nature. It is therefore possible that the
forecasts, projections and other statements will not be achieved or
will differ significantly from those expressed or implied in such
forward-looking statements or could affect the extent to which a
particular forecast, projection or other statement materializes.
Although Lassonde believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no
assurances that these expectations will prove to be correct.
Readers are cautioned against placing undue reliance on
forward-looking statements when making decisions, as the actual
results could differ considerably from the opinions, plans,
objectives, expectations, forecasts, estimates and intentions
expressed in such forward-looking statements due to various
significant factors. Such factors include, among others, the
economic, industrial, competitive and regulatory environment in
which Lassonde operates or factors that are likely to have an
impact on its operations, its ability to attract and retain
customers, consumers, and qualified staff, the availability and
cost of raw materials and transportation, its operating costs, and
the price of its finished products in the various markets where it
operates.
The Company cautions that the foregoing list of factors is not
exhaustive. For additional information about the risks,
uncertainties and assumptions that could cause Lassonde's actual
results to differ from its stated expectations, readers may also
consult the "Uncertainties and Principal Risk Factors" section of
the Company's most recent annual MD&A and other documents it
files from time to time with securities regulators in Canada and that are available on
www.sedar.com. The forward-looking statements contained in this
press release reflect the Company's expectations on this date and
are subject to change after this date. Lassonde does not undertake
to update publicly or to revise these forward-looking statements,
whether as a result of new information, future events or otherwise,
unless required by applicable legislation or regulation.
SEDAR registration number: 00002099
SOURCE Lassonde Industries Inc.