Business
Premium Brands Holdings Corporation announces acquisitions of Buddy's Kitchen, Raybern Foods and an investment in Shaw Bakers
Premium Brands Holdings Corporation announces acquisitions of Buddy's Kitchen, Raybern Foo...
About this update from Premium Brands Holdings Corporation
[{"type":"text","content":"\n\n\n\nPremium Brands Holdings Corporation announces acquisitions of Buddy's Kitchen, Raybern Foods and an investment in Shaw Bakers\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\n\nCanada NewsWire\nVANCOUVER, Nov. 22, 2017\n\n\n\nVANCOUVER, Nov. 22, 2017 /CNW/ - Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today that it has completed the following three transactions:\n\n\nThe acquisition of a 100% interest in Minnesota based Buddy's Kitchen Inc. from its founding family and management;\nThe acquisition of a 100% interest in California based Raybern Foods from TSG Consumer Partners, management and other shareholders; and\nThe purchase of a 50% interest in California based Shaw Bakers.\n\nBuddy's is a leading manufacturer of sandwiches and other prepared meal solutions for a variety of customers with a particular focus in the airline and convenience store channels.  It operates two modern production facilities in the Minneapolis area, one of which is 91,000 square feet and the other 62,000 square feet. \n\nRaybern's is a leading manufacturer of branded specialty sandwiches for the U.S. retail market and operates a modern 146,000 square foot facility in Tupelo, Mississippi.  Its line of authentic handheld products includes the #1 selling Philly Cheesesteak sandwich in the U.S. as well as a wide variety of other frozen and refrigerated sandwiches and wraps.\n\nShaw Bakers is a manufacturer and distributor of fresh and frozen artisan breads as well as a range of sweet and savory pastries.  It operates a 67,600 square feet facility in the greater San Francisco area.\n\nOn a combined basis Buddy's, Raybern's and Shaw Bakers have annual sales of approximately US$115 million (approximately CDN$147 million).\n\n\"Buddy's and Raybern's greatly complement our existing businesses as well as each other,\" said Mr. Steve Sposari, President of Premium Brands' North American Sandwich Group.  \"With Buddy's we gain a new line of unique and innovative products, a very flexib...