Concord Premium Meats is one of four acquisitions Premium Brands closed this year along with The Meat Factory Ltd., and Ontario-based manufacturer of cooked protein products for retailers and foodservice customers; Country Prime Meats Ltd., a maker of shelf-stable meat snacks based in British Columbia and Frandon Seafood Inc., a Quebec-based distributor of fresh and frozen seafood to foodservice and retail customers in the greater Montreal, Quebec, area.
The combined purchase price for the four companies was $227.0 million and consisted of $155.9 million in cash, $45.4 million in Premium Brands' common shares, $23.7 million in promissory notes and $2.0 million in contingent consideration.
Concord proprietary brands include MarcAngelo, Skoulakis, Central Park Deli, Black River Angus and Connie’s Kitchen.
“We are very excited to welcome Concord and its talented management team into the Premium Brands family. Its entrepreneurial culture is a perfect fit for us,” said George Paleologou, president and CEO of Premium Brands. “Furthermore, its focus on products that are benefiting from a variety of long-term consumer trends, combined with its product innovation abilities and production capacities, will help to further accelerate the growth of our Protein Group.”