01:38 PM EDT, 08/08/2024 (MT Newswires) -- Lassonde Industries (LAS-A.TO) on Thursday said it closed the US$237.2-million acquisition of the Zidian Group, which operates Summer Garden Food Manufacturing, as it continues expanding in the United States.

The company said the acquisition brings Zidian's 250 products, including "sauces and condiments, including tomato and cream-based pasta sauces, BBQ sauces, dipping sauces and dressings" sold in more than 20,000 locations. Its brands include Gia Russa, Little Italy in the Bronx and G Hughes. It also offers co-packing services to other brands.

Zidian had sales of US$148 million in the 12 months ending May 31.

"This acquisition marks an important step in the execution of our strategy by significantly expanding the scope of our North American specialty food business and creating a new growth platform for Lassonde," chief executive Nathalie Lassonde said in a release.

Lassonde's Class A shares were last seen up $4.19 to $157.19 on the Toronto Stock Exchange.

Price: 157.19, Change: +4.19, Percent Change: +2.74