Premium Brands acquires Skilcor Foods in Canada

North American speciality food producer and distributor Premium Brands Holdings has acquired 100% stake in Canadian company Skilcor Food Products (Skilcor).

Financial details of the deal have not been disclosed by the companies.

With annual sales of nearly C$27m ($21m), Ontario-based Skilcor manufactures cooked back ribs and other protein products.

Skilcor operates from a 34,000ft² facility constructed in 2006.

Premium Brands president and CEO George Paleologou said: "Skilcor further strengthens our rapidly growing presence in central Canada's protein manufacturing and protein distribution segments.

“It will not only expand our portfolio of products but will also give us specialised production capacity that will enable us to provide customers with premium quality differentiated protein solutions in the high-growth ready-to-eat product category.

"In addition, Skilcor's experienced and talented management team will further enhance the depth of our protein platform in Central Canada."

The transaction will be funded through Premium Brands' existing bank facilities.

In August, Premium Brands announced the completion of its new 212,000ft² sandwich facility in Phoenix, Arizona, US.

The company is also building a 105,000ft² combination seafood and protein custom cutting and distribution facility in the Greater Toronto Area, Canada.

It owns speciality food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec. It also has markets in Nova Scotia, Nevada, Ohio, Arizona, and Washington.