Premium
Brands is using one of its subsidiaries to buy Fletcher’s Fine Foods in Washington
state.
No price
has been disclosed.
Fletcher's
US, which sells a variety of premium bacon and fresh sausage products in the
U.S. Pacific Northwest under the Fletcher's brand, has annual sales of
approximately $17 million US.
It was
founded by a predecessor of Premium Brands in 1985, then sold as part of a
larger transaction in 2004.
Under the
terms of the transaction, Hempler's will be purchasing Fletcher's US's business
and production equipment but not its plant in Algona, Washington.
Hempler's
will be transferring production of Fletcher's US's products to other
manufacturing facilities in the U.S., including its plants in Ferndale and
Kent, Washington.
"This
transaction fits perfectly with our strategy of investing in companies with
strong regional brands then providing their talented management teams with the
resources needed to further strengthen their business and help accelerate their
growth," said Mr. George Paleologou, President and chief executive
officer.
Premium
Brands is best known in Ontario for owning Piller’s Sausages and Delicatessens
Ltd. of Waterloo.
Paleologou
said "this transaction brings together three of the U.S. Pacific
Northwest's most iconic specialty-packaged meat brands, namely Hempler's,
Fletcher's, and Isernio's, which we acquired just last year.
“All of
these brands are known for their authentic, top quality, specialty products and
their long histories of community engagement and charitable giving," he
said.
