Canadian juice firm Lassonde Industries has signed an agreement through its subsidiary US Juice Partners to acquire American juice company Apple & Eve for $150m, in order to make its entry into the branded juice business.

The company is yet to receive regulatory approvals for the proposed transaction, which is expected to take place in July 2014.

Following the completion of the transaction, Apple & Eve will provide the company with access to its logistics, distribution, and purchasing operations.

Lassonde will own a 90% equity stake in the juice firm and its complete line of juice and drink brands.

The company will also own the remaining 10% stake as it already has certain equity interest in the acquiring US subsidiary.

Apple & Eve founder, president and CEO Gordon Crane said that the company is looking forward to enter the new chapter.

"By joining Lassonde, we will remain highly focused on creating innovative, on-trend products under the iconic Apple & Eve brand and the other strong brands in our portfolio," added Crane.

Lassonde Industries chairman of the board CEO Pierre-Paul Lassonde said, "Our entry into the branded juice business in the United States represents another major milestone in our North American strategy."

The company develops, manufactures, and markets various fruit and vegetable juices and drinks primarily in Canada and the US.

It also imports and markets selected wines from various countries; and manufactures apple ciders and wine-based beverages.