ROUGEMONT, QC, Sept. 21, 2016 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) ("Lassonde") announces that certain of its subsidiaries have entered into an amended and restated credit agreement in respect of its US operating and term credit facilities.

The existing credit facilities were due to mature in 2017. In addition to extending their maturity to September 2019, the amendments will result in reduced borrowing costs.

The amended credit facilities, which remain non-recourse to Lassonde's Canadian assets, provide for a US$25,0 million increase of the revolving credit facility to US$75,0 million and a US$14,0 million increase of the existing term indebtedness to US$164,4 million. The credit facilities are secured by the assets of Lassonde's U.S. subsidiaries as well as by share pledges granted by each of Lassonde and A. Lassonde Inc. The interest rate of the term loan is LIBOR plus 1.50% to 2.25% depending on the debt to EBITDA ratio. The credit facilities provide for lightened customary covenants.

Lassonde has entered into the credit agreement with Wells Fargo Bank, N.A., as administrative agent, collateral agent, swingline lender and issuing lender, Wells Fargo Securities, LLC and BMO Capital Markets Corp., as joint lead arrangers, Wells Fargo Securities, LLC, BMO Capital Markets Corp., RABOBANK Canada and Caisse centrale Desjardins, as joint book managers, and BMO Capital Markets Corp., as syndication agent.

"We are pleased to have concluded this transaction and appreciate the support of both our new and existing financial partners. The facilities should improve our cost of capital and provide us with increased financial flexibility," said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive Officer of Lassonde Industries Inc.

About Lassonde

Lassonde Industries Inc. is a North American leader in the development, manufacture and sale of a wide range of ready-to-drink fruit and vegetable juices and drinks marketed under brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis and Rougemont.

Lassonde is also the second largest producer of store brand shelf-stable fruit juices and drinks in the United States and a major producer of cranberry sauces.

Lassonde also develops, manufactures and markets specialty food products under brands such as Antico and Canton. The Company 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 2,100 people working in 14 plants across Canada and the United States. To learn more, visit www.lassonde.com.

SEDAR registration number: 00002099

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements that are based on certain assumptions. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Additional factors are discussed in materials filed from time to time with the securities regulatory authorities in Canada. Lassonde Industries Inc. disclaims any intention or obligation to update or revise any forward-looking statements except as required by law.

SOURCE Lassonde Industries Inc.