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Boardman sauce maker sold

Deal could be worth $280M

YOUNGSTOWN — The Zidian Group, which operates Boardman-based Summer Garden Food Manufacturing — maker of Gia Russa sauce and other specialty condiments — has been acquired by a U.S. subsidiary of Lassonde Industries Inc. in Canada.

Lassonde, which makes and distributes private label and national brand products across North America, announced Friday the deal that could be worth $280 million.

The agreement calls for $235 million at closing and up to $45 million payable over the next three years if certain financial targets and other conditions are met, according to a news release.

“This partnership ensures our legacy will continue to thrive,” Thomas Zidian, president and CEO of Summer Garden, said in the release. “We are confident it will benefit our customers through enhanced products and will offer our employees new opportunities for development and advancement. We also believe the values which have guided the Zidian family business from the start will continue to be the guiding principles under the stewardship of Lassonde Industries Inc.”

The transaction is subject to regulatory clearance and other closing conditions. It is expected to close within 30 to 45 days.

Summer Garden, on McClurg Road, develops, makes and marketsa wide variety of sauces and condiments. Its portfolio includes about 250 products sold at more than 20,000 locations under the Gia Russa and Little Italy in the Bronx brands, as well as the G Hughes brand, which makes a sugar-free barbecue sauce. G Hughes is Guy Hughes, a well-known pitmaster and sauce maker, of Newton Falls.

Summer Garden, for the 12-month period that ended in May, generated $148 million in U.S. sales, the release states. It employs about 200 people.

“The acquisition of Summer Garden supports our ambition to become a more diversified North American food and beverage company,” Nathalie Lassonde, CEO and vice chair of the board of directors of Lassonde Industries Inc. “Growing our specialty food activities is one of Lassonde’s key strategic objectives, and we are happy to have found the right company to help us achieve this objective. Our culture and values align with those of Summer Garden, which is also a multi-generational family business, with an entrepreneurial spirit and strong commitment to its employees, customers, consumers and the communities in which it operates. We are looking forward to closing the transaction and welcoming new talented employees to the Lassonde organization.”

Lassonde employs about 2,700 people at about 20 facilities in Canada and the U.S.

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