M&A-hungry, Canada-based food manufacturer Premium Brands Holdings has snapped up two more businesses and invested in another.

The company, which struck three deals in the third quarter and said last week it expected to seal more before the year was out, has acquired two US firms.

Minnesota-based, family-owned sandwiches and ready-meal maker Buddy’s Kitchen is to join Premium Brands Holdings, which has also acquired California-based sandwiches and wraps supplier Raybern Foods from TSG Consumer Partners.

The Canadian group has also bought 50% of another business in the Golden State, Shaw Bakers.

Premium Brands Holdings said it would pay US$156.5m in total, subject to customary closing adjustments. The company is putting up $153m in cash and $3.5m worth of its own shares. The combined annual sales of the three businesses are $115m.

“These transactions both diversify and greatly enhance our Sandwich Platform’s growth opportunities and move it significantly closer to its objective of becoming North America’s leading sandwich manufacturer,” Premium Brands Holdings president and CEO George Paleologou said.

Buddy’s has what Premium Brands Holdings called “a particular focus” on the airline and convenience store channels. It operates two production facilities in the Minneapolis area.

Raybern’s supplies branded sandwiches to US retailers from a facility in Tupelo, Mississippi.

Shaw Bakers manufactures and distributes of fresh and frozen breads, as well as a range of sweet and savoury pastries. It runs a facility in the greater San Francisco area.

Last week, Paleologou said Premium Brands Holdings expects a “busy” 12 months of deal-making in 2018.