Premium Brands Holdings expects to complete “several transactions this year”, the president and CEO of the acquisitive Canada-based food group said today (14 August).
George Paleologou said Premium Brands Holdings, which made six acquisitions in 2016, “continued to enjoy a particularly robust pipeline of opportunities”.
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The comments came as Paleologou revealed Premium Brands Holdings had invested US$2m in US cracker firm Partners in recent weeks.
Paleologou did not disclose what size stake Premium Brands Holdings now had in the Seattle-based Partners but said the transaction would “facilitate the company’s move into a new 150,000 square foot state-of-the-art facility in the Seattle region”.
The deals Premium Brands Holdings announced in 2016 included the purchases of Canadian artisanal baker Island City Baking, its pasta-making affiliate Conte Foods and Larosa Fine Foods, a Canada-based manufacturer and wholesaler of Italian products.
Premium Brands Holdings’ biggest acquisition of 2016 was that of Montreal-based C&C Packing and its affiliate, Premier Meat Packers, for CAD146m (US$114.9m).
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