Rogers Sugar Inc. (TSX: RSI) through its wholly-owned subsidiary of Lantic Inc. has closed previously-announced acquisition of L.B. Maple Treat Corporation from Champlain Financial and Fondaction for $160.3 million,
In February 2016, Champlain Financial, Fondaction, Daniel Cousineau and investment partners, Torsby Overseas Ltd., Daniel Gauthier, and Christian Pouliot, acquired L.B. Maple Treat from Bedford Capital.
Founded in 1946, L.B. Maple Treat Corporation has two bottling plants in Québec and one located in Vermont. The business is supported by distribution centers in Eastern and Western Canada, the U.S. and Australia.
“Lantic is acquiring LBMT to build a new natural sweetener growth platform that joins our 125-plus year heritage business operated and headquartered in Montreal, Quebec. This Transaction is significant for Rogers Sugar and fits perfectly in our long-term strategy to continue to build and invest in natural sweetener businesses and products,” said John Holliday, President and Chief Executive Officer of Rogers Sugar and Lantic Inc.
“While we see opportunities for various synergies between Lantic and LBMT, LBMT will be operated as a separate entity from its headquarters in Granby, Québec. We are excited to be working with the leaders in this industry and growing our leadership position in the maple syrup industry. LBMT will provide us with opportunities to grow organically, leverage sales and operational gains, and expand with further acquisitions,” concluded Holliday.
photo credit: L.B. Maple Treat