VANCOUVER, BRITISH COLUMBIA– Freybe Gourmet Foods is pleased to announce that it has agreed to be acquired by Premium Brands Holdings Corporation (TSX:PBH), a leading producer, marketer and distributor of branded specialty food products.
Following the transaction, Freybe will continue to be led by Sven Freybe, President and CEO of Freybe Gourmet Foods, from its 118,000 square foot production facility located in Langley, BC.
"We have a long 168-year history in the gourmet deli business, and throughout this time we have dedicated ourselves to delighting our customers and their families with the tastiest products," said Sven Freybe, President and CEO of Freybe Gourmet Foods. "Our partnership with Premium Brands, which will give us access to additional resources such as Premium Brands' proprietary distribution networks, means even more people will have the opportunity to enjoy Freybe products as we look forward to an exciting period of expansion."
"In determining who to partner with, we chose Premium Brands based on their long history of respecting the unique entrepreneurial cultures of the businesses they invest in and their commitment to producing and selling only premium quality products," said Sven. "Our focus on providing superior customer service, great tasting products and gold medal quality will not change."
"We are very pleased to welcome Sven Freybe and his management team to Premium Brands. We have known and respected them for many years and are looking forward to working with them. Their talents will further strengthen our management team," said Mr. Paleologou, President and CEO of Premium Brands.
The deal is expected to close shortly and is subject only to customary closing conditions. Taluswood Capital Inc. acted as financial advisor to Freybe for this transaction.
About Freybe
Freybe is a leading manufacturer and marketer of premium gourmet deli meats and high quality food products and is based in Langley, BC.
About Premium Brands
Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada and Washington State. The Company services over 22,000 customers and its family of brands and businesses include Grimm's, Harvest, McSweeney's, Bread Garden Go, Hygaard, Hempler's, Quality Fast Foods, Gloria's Best of Fresh, Direct Plus, National Direct-to-Store Distribution (NDSD), Harlan Fairbanks, Creekside Bakehouse, Centennial Foodservice, B&C Foods, Shahir, Duso's, Maximum Seafood, SK Food Group, OvenPride, Hub City Fisheries, Audrey's, Deli Chef, Piller's and Freybe.
Source: Premium Brands
