Premium Brands buys back Fletcher's Fine Foods
Aug. 16, 2016
by MEAT+POULTRY Staff
VANCOUVER, BC – Premium Brands Holdings Corporation, announced Aug. 15 that its Washington-based subsidiary, Hempler Foods Group LLC, will acquire the business and assets of Washington-based Fletcher’s Fine Foods for $5 million. The sale is expected to close in September.
“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 George Paleologou, president and CEO of Premium Brands. “Furthermore, this transaction brings together three of the US Pacific Northwest’s most iconic specialty packaged meat brands, namely Hempler’s, Fletcher’s, and Isernio’s, which we acquired just last year.”
Fletcher’s US has annual sales of approximately $17 million and sells premium bacon and fresh sausage products in the Pacific Northwest under the Fletcher’s brand. Fletcher’s was founded by a predecessor of Premium Brands in 1985 then later sold as part of a larger transaction in 2004, according to a company release.
Under the terms of the sale, Hempler’s will buy Fletcher’s US’s business and production equipment but not its plant in Algona, Washington. Hempler’s will then transfer production of its US products to other manufacturing facilities including its plants in Ferndale and Kent, Washington.
“I am very pleased to have Fletcher’s US join our family of lead brands,” said Stephen Bates, president of Hempler’s. “Earlier in my career I was a proud member of the Fletcher’s US organization and I am very excited about once again playing a part in the growth and development of the Fletcher’s US brand.”
Premium Brands owns a broad range of specialty food manufacturing and distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, Ohio and Washington. Its brands and businesses include Grimm’s, Harvest, McSweeney’s, Piller’s, Freybe, Expresco, Hempler’s, Isernio’s, Direct Plus, SK Food Group, OvenPride, Audrey’s, Bread Garden Go, Hygaard, Quality Fast Foods, Deli Chef, Creekside Bakehouse, Stuyver’s Bakestudio, Gourmet Chef, Duso’s, Centennial Foodservice, B&C Food Distributors, Shahir, Wescadia, Harlan Fairbanks, Maximum Seafood, Ocean Miracle, Hub City Fisheries, C&C Packing and Premier Meats.