Business
Premium Brands Holdings Corporation announces acquisition of Island City Baking, Conte Foods and Larosa Fine Foods
Premium Brands Holdings Corporation announces acquisition of Island City Baking, Conte Foo...
About this update from Premium Brands Holdings Corporation
[{"type":"text","content":"\n\n\n\nPremium Brands Holdings Corporation announces acquisition of Island City Baking, Conte Foods and Larosa Fine Foods\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nPremium Brands Holdings Corporation announces acquisition of Island City Baking, Conte Foods and Larosa Fine Foods\nCanada NewsWire\nVANCOUVER, Dec. 1, 2016\n\n\n\nVANCOUVER, Dec. 1, 2016 /CNW/ - Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today that it has acquired Island City Baking and its affiliate Conte Foods.  \n\nIsland City Baking, which was founded in 1990, is a leading manufacturer of fresh and frozen artisan breads.  It operates out of a modern 45,000 square foot production facility located in Richmond, BC and services retail and foodservice customers across southern BC.   \n\nConte Foods, which was founded in 1993, is a distributor of a variety of specialty food products including items imported from various parts of Europe and fresh pasta produced at its new 16,000 square foot facility located in Burnaby, BC.  Island City and Conte Foods, on a combined basis, have annual sales of approximately $20 million.\n\n\"We are very pleased to welcome Carmelo De Luca, President of Island City, An Nguyen, Senior VP Operations of Island City and the rest of their team to Premium Brands,\" said Mr. George Paleologou, President and CEO of Premium Brands.  \"Both Island City and Conte Foods have built strong reputations for manufacturing great high quality products and providing exceptional service to their customers.  Furthermore, the dynamic and entrepreneurial cultures that Carmelo and An have developed at Island City and Conte Foods make these businesses a perfect fit with Premium Brands,\" added Mr. Paleologou.\n\nIn a separate transaction, Premium Brands also announced the acquisition of the business and assets of Larosa Fine Foods, a manufacturer and wholesaler of a variety of specialty Italian products.  Larosa, which has annual sales of approximately $4 million an...