VANCOUVER, BC — Premium Brands Holdings Corp. has acquired a majority interest Expresco Foods, Inc., Montreal, a manufacturer of ready-to-cook and grilled meat products for the food service and retail markets in the United States and Canada. Terms of the investment were not disclosed.
Expresco sells its products throughout Canada and the United States under the West End brand and has annual sales of approximately $55 million and operates out of a manufacturing plant in Montreal. The company was founded in 1987 by Dennis Papakostas, who is still leading the company.
“This transaction is another example of how we work with talented and successful entrepreneurs to create customized ownership solutions that meet their unique personal and business needs,” said George Paleologou, president and CEO of Premium Brands. “Dennis and his long-term business partner, George Tiritidis, have done an exceptional job in building Expresco and we are honored that they have chosen us to be their partners in the next evolution of its development.
“Looking forward, we will be working with Dennis and George to accelerate Expresco’s growth through a number of capital and operational expansion initiatives, including leveraging our extensive marketing and distribution infrastructures in both Canada and the US to expand its customer base, using our leading protein focused brands to increase Expresco’s presence in the deli departments of small and large retailers, and incorporating Expresco’s products into our sandwich products.”
Premium Brands owns a number of food companies throughout the United States and Canada, including such brands as Hempler’s, a meat processor; Hygaard, a maker of sandwiches, hamburgers and other specialty products; McSweeney’s, a maker of meat snacks and pastries; and the Made Right brand of beef jerky.