Oberto Brands to be acquired by Premium Brands Holdings
By Canadian Packaging staff
General food processor company acquisition Oberto Brands Premium Brands Holdings Corporation100-year-old, family-owned company to retain headquarters in Kent, WA.
KENT, Wash.—Oberto Brands of Kent, WA, has announced announced has been acquired by Vancouver-headquartered Premium Brands Holdings Corporation. The transaction is expected to close within the next 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 family-owned company employs close to 500 people and has a proud legacy of commitment to the community. Its brands include Oberto, Pacific Gold, Pacific Gold Reserve, Lowrey’s and Cattleman’s Cut.
“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,” says Oberto chairman emeritus Art Oberto. “Premium Brands is the right partner to take us forward and strengthen the legacy built by our family.”
Premium Brands president and chief executive officer George Paleologou states: “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.”
“While Oberto has been successful as an independent, family-owned business for over 100 years, the marriage with Premium Brands will enhance our ability to grow and thrive for the next 100 years,” adds Oberto president and chief executive officer Tom Hernquist. “Premium Brands has a sterling track record of nurturing and growing family-owned businesses with their extensive meat expertise, capital investment philosophy, procurement and distribution platforms and an operating model focused on supporting and developing each operating business unit.”
Some of the brands in the Premium Brands portfolio include Piller’s specialty deli products, Harvest Meats premium processed meats, Stuyver’s artisan bread amongst the 27 specialty product and 17 premium food distribution brands.
Company information on Premium Brands is available at www.premiumbrandsholdings.com.
Image purchased via www.fotolia.com.
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