Thursday, September 28, 2017

Premium Brands buys another company


Premium Brands is buying Skilcor Food Products, the third Ontario company it has bought within the last year.

Skilcor markets cooked back ribs and other protein products.  It has annual sales of approximately $27 million and operates out of a specially designed 34,000 square foot facility that was built in 2006 in Brampton.

"Skilcor further strengthens our rapidly growing presence in central Canada's protein manufacturing and protein distribution segments,” said president and chief executive officer George Paleologou in announcing the deal.

“It will not only expand our portfolio of products but will also give us specialized production capacity that will enable us to provide customers with premium quality differentiated protein solutions in the high growth ready-to-eat product category."

"I have no doubt that Premium Brands is the right partner for us, our company and our people," said Mrs. Deborah Kinzinger, founder and chair of Skilcor. 

 "I am very proud of our team, our culture and our products and of how much we have accomplished since Skilcor was founded back in 1969.

Earlier this month Premium Brands bought Leadbetter Foods Inc. which Paleologou said would be a good fit with Belmont Foods which is bought for close to $50 million last October.