News

Rougemont, Quebec, September 2, 2020 – (TSX: LAS.A) Jean Gattuso, Chairman of Lassonde Pappas and Company Inc. and President and Chief Operating Officer of Lassonde Industries Inc. (the Company), is pleased to announce the appointment of Vincent R. Timpano to the role of President and CEO of the Lassonde Pappas and Company Inc. (“LPC”). In his role, Mr. Timpano will oversee the strategic development and growth for all operating activities of LPC, the largest manufacturing and sales subsidiary of juices and ready-to-drink beverages of Lassonde Industries Inc. Mr. Timpano will be assisted by
Seth French who is to continue to develop and manage LPC’s Private Label operations and by Howard Veltman who will now manage all of LPC’s National Brands.

“I am very proud to welcome Vince to the Lassonde leadership team to oversee the management of our US subsidiary Lassonde Pappas and Company Inc. Vince has extensive experience in the consumer products industry and is recognized for his human and professional qualities in the development, transformation and effective management of organizations. I am confident that Vince and the whole Lassonde team in the United States will quickly reach new heights over the next few years, both in terms of innovation and financial results” underlined Mr. Jean Gattuso.

Mr. Timpano has a solid track record as a proven executive with extensive commercial and operational knowledge. Over the past 20 years, he has served in several executive roles, including President, Global Coalitions, at Aimia Inc, President of Coca-Cola Canada, and President and CEO of The Minute Maid Company Canada.

He is a member of the Advisory Board of Directors at the Napoleon Group of Companies and he is a former board member of Seneca College and the Scarborough Health Network; he has also chaired the Board of Trustees of the United Way, Toronto. He is a graduate of the Institute of Corporate Directors, Rotman School of Management, University of Toronto, and received an MBA from the Ivey Business School at Western University.

 

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