Champlain to sell L.B. Maple Treat to Lantic for $160 mln

Canadian private equity firm Champlain Financial Corp has agreed to sell L.B. Maple Treat Corp (LBMT), a Granby, Québec-based producer and distributor of pure maple syrup, to Lantic Inc, an affiliate of Rogers Sugar Inc (TSX: RSI). Lantic, a Montréal-based sugar products business, agreed to pay $160.3 million. Founded in 1946, LBMT was acquired two years ago by Champlain and a consortium of investors, including Daniel Cousineau, the company's current president, and Fondaction CSN. The seller in the 2015 deal was Bedford Capital. Lantic said the acquisition, expected to close in August, will allow it to "diversify into the large and growing maple syrup market in rapid fashion."

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