Canada’s Premium Brands Holdings Corp (PBH.TO: Quote) said it acquired South
Seas Meats Ltd, a Vancouver-based meat distributor, for about C$2.1 million ($2
million) and expects the deal to add to its 2010 earnings.
South Seas, which distributes Halal and other ethnic foods, in the Greater
Vancouver area, has annual sales are about C$10.0 million and the deal is
expected to generate about C$0.5 million in incremental earnings before
interest, tax, depreciation, and amortization (EBITDA) in 2010, Premium Brands
said.
“This transaction is consistent with our strategy of using bolt-on acquisitions
to strengthen our differentiated distribution networks and expand our portfolio
of specialty food products,” Chief Executive George Paleologou said in a
statement.
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