Rougemont, Quebec – Lassonde Industries Inc. (TSX: LAS.A) (“Lassonde”) has acquired the shares of Clement Pappas and Company, Inc. (“CPC”) held by Clement David Pappas. The purchase price of US$ 11.1 million was paid cash and funded out of Lassonde’s working capital.

“This additional investment in CPC reinforces our US presence and represents another building block from which to grow our business,” said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive Officer of Lassonde Industries Inc.

Lassonde’s equity interest in CPC is thereby increased from 84.0% to 90.0%. The remaining 10.0% is held by members of the Lassonde family.

Clement David Pappas has stepped down from his position on the Board of Directors of CPC and his role as Special Advisor. “We would like to thank Clement for his work on the Board and wish him great success in his future endeavours,” said Jean Gattuso, Chairman of Clement Pappas and Company, Inc.