VANCOUVER — Premium Brands Holdings Corporation has inked a deal to purchase most of the assets and operating divisions of Piller Sausages & Delicatessens Limited for $73.7 million and 1,968,750 Premium Brand shares.
“This transaction will create a national deli-meats platform that will feature two of Canada’s most respected deli brands: Grimm’s in the West and Piller’s in the East,” said George Paleologou, president and CEO of Premium Brands.Founded in 1957 by the Huber family, the Ontario-based Piller’s is one of Canada’s leading manufacturers of specialty European deli meats with annual sales of approximately $180 million. The Richmond, B.C.-based Premium Brands owns a range of specialty food manufacturing and differentiated food distribution businesses.
The deal is expected to close later this month, pending regulatory board approval.