Premium Brands completes acquisition of Concord Premium Meats

Canadian speciality food manufacturing and distribution company Premium Brands Holdings (PBH) has completed the acquisition of 100% interest in Concord Premium Meats (Concord) after receiving approval from the Competition Bureau.

Ontario-based Concord produces branded and customised protein solutions for retailers and foodservice customers across Canada.

The company’s portfolio includes a wide range of brands such as MarcAngelo, Skoulakis, Central Park Deli, Black River Angus and Connie’s Kitchen.

Premium Brands president and CEO George Paleologou said: “We are very excited to welcome Concord and its talented management team into the Premium Brands family.  Its entrepreneurial culture is a perfect fit for us.

“Furthermore, its focus on products that are benefiting from a variety of long-term consumer trends, combined with its product innovation abilities and production capacities, will help to further accelerate the growth of our Protein Group.”

PBH previously completed the acquisition of 100% stake in two US-based food companies, Raybern Foods and Buddy’s Kitchen (Buddy’s) in addition to purchasing a 50% interest in California-based firm Shaw Bakers.

Minnesota-based Buddy’s Kitchen was acquired from its founding family and management, while California-based Raybern Foods was transferred from TSG Consumer Partners, management and other shareholders.

The total purchase price for the combined transactions was $156.5m, which included a cash payment of $153m and $3.5m in Premium Brands common shares.

Premium Brands owns a wide range of speciality food manufacturing and differentiated food distribution businesses, which are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, Nevada, Ohio, Arizona, Minnesota, Mississippi and Washington states.