Lassonde Industries Inc. announces that Éric Gemme will succeed Guy Blanchette as Chief Financial Officer

ROUGEMONT, QC, Feb. 12, 2021 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) ("Lassonde") announced today that Guy Blanchette, Executive Vice President and Chief Financial Officer, has made the decision to leave his current position on March 31, 2021, in order to decrease his professional activities and to eventually take a well-deserved retirement. Thus, from April 1, 2021, following a long-prepared transition plan, Eric Gemme, currently Senior Vice-President and Chief Financial Officer of the Lassonde Pappas and Company Inc. division, will become the Chief Financial Officer of Lassonde Industries Inc.

The transfer of responsibility between Guy Blanchette and Eric Gemme will take place in a gradual and orderly manner, as Mr. Blanchette will continue his relationship with Lassonde by becoming, on April 1, 2021, the strategic advisor of Nathalie Lassonde, Chief Executive Officer of Lassonde Industries Inc. In this role, he will advise management in carrying out specific strategic projects and will remain responsible for Lassonde Industries Inc.'s investor relations.

"On behalf of the members of management and the Board of directors of Lassonde Industries Inc., I would like to sincerely thank Guy Blanchette for his 14 years of loyal service as Chief Financial Officer. Guy has been a key player in the growth of our organization over the past decade. I am very happy to be able to continue to benefit from his vast experience and his precious and wise advice. I would also like to congratulate Eric Gemme on his appointment as Chief Financial Officer. He is the perfect choice to fulfill this function. His expertise in financial management and knowledge of the business and our industry on a North-American scale will be important assets for our continued growth," concluded Nathalie Lassonde.

Eric Gemme joined Lassonde in August 2014. Since then, he has held several strategic positions within the organization, including Senior Vice-President and Chief Financial Officer of the Lassonde Pappas and Company Inc. division, Chief Operating Officer of Apple & Eve LLC, Senior Vice-President of Corporate Finance and Senior Vice-President and Assistant to the President and Chief Operating Officer of Lassonde Industries.

He began his career with Price Waterhouse in 1994. He then respectively occupied various positions, including:  Vice-President, Finance and Treasurer at Cognicase, Inc.; Vice-President, Finance and Corporate Controller at CAE Inc.; Vice-President, Finance for the Avionics & Surveillance division of Cobham PLC; Vice-President, Finance and Control at Future Electronics, Inc., and Chief Financial Officer and Head of Corporate Services of BBA, Inc.

Eric holds a bachelor's degree in business administration – accounting science, from Université du Québec à Montréal. He also holds an Executive Certificate in Technology, Operations and Value Chain Management from the MIT – Sloan School of Management.  He is a member of the Quebec CPA Order (CPA-CA), of the American Institute of Certified Public Accountants (CPA – Illinois) and of the Canadian Institute of Chartered Business Valuators (CBV).

About Lassonde

Lassonde Industries Inc. is a North American leader in the development, manufacture and sale of ready-to-drink juices and drinks marketed under brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis, Old Orchard, Rougemont and Sun-Rype. Lassonde is the largest producer of fruit and vegetable juices and drinks in Canada and one of the two largest producers of store brand shelf-stable fruit juices and drinks in the United States. It is also a major producer of cranberry sauces. The Company also produces fruit-based snacks in the form of bars and bites.

Lassonde also develops, manufactures and markets specialty food products under brands such as Antico and Canton. The Company also imports and markets selected wines from various countries and manufactures apple ciders and cider–based beverages.

The Company produces superior quality products through the expertise of approximately 2,600 people working in 18 plants across Canada and the United States. To learn more, visit www.lassonde.com.

Caution Concerning Forward-Looking Statements 

In this document and in other documents filed with Canadian regulatory authorities or in other communications, the Company may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements notably include estimates, expectations, forecasts, and projections of future investment spending, revenues, expenses, earnings, profit, indebtedness, financial position, losses, upcoming projects, business and management strategies, and business growth and expansion. In the context of this document, forward-looking statements are particularly used to discuss preliminary results, the rate of sales growth, and profit attributable to shareholders. The forward-looking statements contained herein are used to help readers better understand Lassonde's financial position and the results of its operations as at the dates presented and may not be appropriate for other purposes. Forward-looking statements can be recognized by such words as "may," "should," "believes," "predicts," "plans," "expects," "intends," "anticipates," "estimates," "projects," "objective," "continues," "proposes," "targets," or "aims" as well as words and expressions of a similar nature and whether they are used in the affirmative or negative or used in the conditional or future tense. Forward-looking statements also include any statements that do not refer to historical facts.

By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other statements will not be achieved or will differ significantly from those expressed or implied in such forward-looking statements or could affect the extent to which a particular forecast, projection or other statement materializes. Although Lassonde believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that these expectations will prove to be correct.

Readers are cautioned against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various significant factors. Such factors include, among others, the economic, industrial, competitive and regulatory environment in which Lassonde operates or factors that are likely to have an impact on its operations, its ability to attract and retain customers, consumers, and qualified staff, the availability and cost of raw materials and transportation, its operating costs, and the price of its finished products in the various markets where it operates.

The Company cautions that the foregoing list of factors is not exhaustive. For additional information about the risks, uncertainties, and assumptions that could cause Lassonde's actual results to differ from its stated expectations, readers may also consult the "Uncertainties and Principal Risk Factors" section of the Company's most recent annual MD&A and the other documents it files from time to time with securities regulators in Canada and available on www.sedar.com. The forward-looking statements contained in this press release reflect the Company's expectations on this date and are subject to change after this date. Lassonde does not undertake to update publicly or to revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation.

SEDAR registration number: 00002099

SOURCE Lassonde Industries Inc.

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