Premium Brands Adds Three Small Meat Companies and Five Plants
Premium Brands Holdings Corp. of Vancouver, B.C., today (Dec. 30) reported it bought three small companies and their five small plants in deals totaling US$66 million.
• NSP Quality Meats (NSP) is a cooked protein and deli meats manufacturer with plants located in Oklahoma, Texas and Missouri.
• Casa Di Bertacchi (Casa) is a manufacturer of branded and private label cooked protein products with a plant in New Jersey.
• Italia Salami makes dry cured Italian salami with a plant in Ontario.
The three companies combined have annual sales of approximately US$200 million. The $66 million combined price tag will be covered by $50 million in cash, $10 million in Premium’s common shares and contingent consideration of $6 million.
Premium Brands also reported the sale and leaseback of the company’s recently expanded Hempler’s deli meats production facility in Washington, resulting in gross proceeds of approximately $68 million.
In addition to acknowledging the companies’ established brands, Premium management noted the additional plants will help cure some capacity shortages.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.