Oberto sold to Canadian Company

Premium Brands Holdings based in Vancouver, British Columbia, CA, announced on April 12 that it has signed an agreement to purchase “substantially all of the assets and operating divisions of Seattle, WA-based Oberto Sausage Company. Premium Brands is a leading producer, marketer and distributor of branded specialty food products. This is Premium Brands’ third major investment in Washington state. The company also announced it increased its investment in Vancouver-based McLean Meats Inc., a supplier of preservative-free and organic processed meats to foodservice and retail customers in Canada, to 66.2 percent from the previous 36.2 percent. Premium Brands said the combined purchase price for the investments in Oberto and McLean is about CA$237 million, while the combined revenues of the two businesses are about CA$246 million. — WLJ