On July 10, 2017, Champlain Financial Corporation (Champlain) announced the signing of an agreement with Lantic Inc. (Lantic) to sell L.B. Maple Treat Corporation (LBMT), a pioneer in the maple syrup industry, for $160.3 million. Lantic operates cane sugar refineries in Montreal, Vancouver and Taber, and is owned by a Canadian corporation named Rogers Sugar Inc.
Champlain, based in Montreal, Quebec, is a Canadian private holding company that operates a private investment portfolio, presently with a series of investments throughout Canada. LBMT, headquartered in Granby, Quebec, was founded in 1975 and has approximately 160 employees. The company allows their customers and partners to have access to an amazing portfolio of maple syrup products, distribution and production capabilities across North America, Europe and Asia.
Champlain is pleased that the ownership remains in strong local hands determined to continue to grow the company on the worldwide stage. As for LBMT, the company is really excited about the future, because Lantic is a perfect fit for them. LBMT’s relationships with over 1400 maple syrup partners/producers who are dedicated to harvesting the highest quality maple syrup make them confident in their abilities to meet new challenges.
Fasken Martineau represented Champlain and LBMT in this transaction with a team composed of Jean-Sébastien Dugas, Leslie Milton and Simon Bisson.