USA: Premium Brands announces conclusion of strategic organization
The offering, pursuant to a short form prospectus, raised aggregate proceeds of $25 million through the combination of a treasury offering of 892,245 shares and a secondary offering of 912,810 shares. Concurrently with completion of the reorganization, the Corporation completed an $80 million financing with a syndicate of lenders.
"These transactions simplify our capital and operating structures, diversify our shareholder base, and provide us with the platform we need to build a leading consumer food products company," said Mr. Fred Knoedler, CEO. "We are very excited about our future. Our focus on specialty food products and on developing alternative distribution channels for those products is providing us with significant top and bottom line growth opportunities," added Mr. Knoedler.
Premium Brands Inc. is an integrated food processing company headquartered in Richmond, British Columbia. The Corporation manufactures, markets and distributes a variety of branded consumer food products in markets across Canada and the Western United States. Its family of brands includes Fletcher's, Grimm's, Torino's, Harvest, McSweeney's, Goodlife and Quality Fast Foods.
- It won't just be Unilever to push for Brexit hikes
- Price an underlying tension across European FMCG
- Interview: UK trade body on Brexit's policy impact
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on the impact of Brexit
- PepsiCo sets 2025 nutrition, sustainability goals
- Nestle lowers outlook on "softer environment"
- China "transition" drags on Danone Q3
- UK announces "action plan" to drive food exports
- Farmers' groups slam Danone over non-GMO stance