H2O Innovation concludes acquisition of Leader Evaporator Co., Inc.

QUEBEC CITY — On Jun. 30, H2O Innovation Inc. announced that the acquisition of the business carried on by Leader Evaporator Co., Inc. has been concluded. Leader has been developing, manufacturing and selling maple farming equipment and products to maple syrup producers located mainly in the United States.

The addition of Leader’s activities to H2O Innovation’s existing maple syrup equipment offering will allow the Corporation to meet the needs of a greater number of maple syrup producers. This new alliance hopes to strengthen the Corporation’s ability to support maple syrup producers in their growth by offering everything from entry-level equipment for smaller producers to new technologies for larger producers. H2O Innovation’s extensive knowledge of membrane filtration will also benefit Leader’s customers.

“The Quebec maple syrup industry is doing extremely well, with a production of over 211 million pounds of maple syrup during the 2022 season. In the United States, the market trend is rising and usually follows Quebec’s. The growing demand and the new quotas to be granted to Canadian producers allow us to conclude this strategic investment with optimism. This acquisition will also allow us to increase our manufacturing capacity by operating on both sides of the border, while optimizing our supply chain from key suppliers and consolidating our purchasing power,” said Frédéric Dugré, President and Chief Executive Officer of H2O Innovation.

H2O Innovation and Leader maple syrup products and equipment will henceforth be offered through a larger distribution network in the United States, with nearly 80 distributors in 10 states.