Century-old meat snack maker Oberto Brands, Kent, Wash., announced April 13 it agreed to sell substantially all of its assets and operating divisions to Canada's Premium Brands Holdings.
The transaction is expected to close within four to six weeks, subject to customary closing conditions, and will enable Oberto to continue growing in the future.
Founded in 1918, Oberto is one of North America's leading manufacturers of beef jerky and other protein-based snack foods. The proud, family-owned company employs close to 500 people and has a legacy of commitment to the community. Its brands include Oberto, Pacific Gold, Pacific Gold Reserve, Lowrey's and Cattleman's Cut. Pacific Gold,
"We are very proud of the many accomplishments we have achieved over the past 100 years as a family-owned and operated business. Transitions are always difficult, but we are confident this transaction will best position Oberto for future success," said Art Oberto, chairman emeritus of Oberto. "Premium Brands is the right partner to take us forward and strengthen the legacy built by our family."
George Paleologou, president and CEO of Premium Brands, added, "Oberto's values, culture, loyal employees and talented management team are an ideal fit for us. We have followed and admired the Oberto brand for many years."