Thursday, December 1, 2016

Premium Brands buys three more companies

Premium Brands continues its torrid pace of acquisitions, this time buying three British Columbia companies for $21 million.

They are Island City Baking of Richmond, which was founded in 1990 and makes fresh and frozen artisan breads, Conte Foods, founded in 1993 and which distributes a variety of specialty food products including items imported from various parts of Europe and fresh pasta produced at its new plant in Burnaby, and Larosa Fine Foods of Vancouver, a manufacturer and wholesaler of a variety of specialty Italian products.

"We are very excited about the opportunities that will result from the merger of Conte Foods and Lasosa," said Premium Brands president George Paleologou. 

"The new combined business, which will be under the leadership of Carmelo De Luca, will position us well in a fast growing, niche segment of the specialty food space.
“Furthermore, we expect to accelerate its growth by enabling it to leverage Premium Brands' resources including our extensive sales and marketing infrastructure in Canada and the U.S.," said Paleologou.

In Ontario, the company is best known for its ownership of Piller's Delicatessens Ltd. of Waterloo.