Lassonde Industries, a key player in the food and beverage industry, has announced a significant change in its leadership team. Vince Timpano, the current president and COO, is set to take over as CEO effective September 1st. Meanwhile, the current CEO, Nathalie Lassonde, will transition to the role of executive vice-president and co-chair of the Lassonde board. In January 2025, she will become the executive chair of the board.
Pierre-Paul Lassonde, the current chairman of the board, will share his responsibilities as co-chair until January and will continue to serve as a board member thereafter. Timpano expressed his gratitude for the opportunity, stating, “Over the past few years, I have discovered an exceptional company with a group of very dedicated employees. I look forward to building on the heritage of this storied North American food and beverage company.”
Timpano, who has been with Lassonde since 2021, previously held the CEO position at the company’s US subsidiary Lassonde Pappas and Co. Nathalie Lassonde commended Timpano’s leadership qualities and business acumen, emphasizing his alignment with the company’s values and extensive experience.
Lassonde Industries, a renowned food and drink manufacturer, sells its products to retail, wholesalers, and independent stores. Their diverse portfolio includes sauces, soups, snacks, soft drinks, and alcoholic beverages under brands such as Canton, Good Bites, and Friolento, in addition to providing private label services.
The company recently announced its second-quarter results for fiscal 2024, reporting a significant increase in sales to C$624.7m. Operating profits and adjusted EBITDA also saw positive growth, indicating a promising outlook for the company’s future. Lassonde anticipates a mid-to-high single-digit sales growth rate for the remainder of the year.
In a strategic move earlier this year, Lassonde entered into an agreement to acquire Zidian Group, the parent company of Summer Garden Food Manufacturing, for $235m. The deal includes provisions for an additional $45m payment over the next three years based on certain financial targets and conditions.
As Lassonde Industries continues to evolve and expand its presence in the market, the appointment of Vince Timpano as CEO marks a significant milestone in the company’s journey towards sustained growth and success.
