Premium Brands acquires three specialty food companies

Premium Brands, a producer, marketer and distributor of branded specialty food products with operations in Canada and the US, completes acquiring NSP Quality Meats (NSP), Casa Di Bertacchi (Casa), and Italia Salami (Italia).

“We are very pleased to welcome NSP, Casa and Italia into our ecosystem and to be partnering with the management teams of these well-known and long-established businesses,” said George Paleologou, president and CEO of Premium Brands.

NSP is a cooked protein and deli meats manufacturer with plants in Oklahoma, Texas and Missouri. New Jersey-based Casa manufactures branded and private label cooked protein products.

“NSP and Casa will play major roles in supporting the continued growth of our market-leading branded cooked protein initiatives in the U.S. by providing much needed capacity and improving our access to additional key U.S. markets. In addition, these businesses will significantly enhance our Specialty Foods Group’s ability to largely mitigate any potential border and tariff related risks,” said Paleologou.

Ontario-based Italia produces dry cured Italian salami.

“Italia is a smaller acquisition but provides our Concord [Ont.] business with much needed local production capacity to help support their very successful Marcangelo branded Italian charcuterie offerings,” added Paleologou.

The sale and leaseback of the company’s recently expanded Hempler’s deli meats production facility in Washington resulted in gross proceeds of approximately US$68 million.

The total purchase price for the NSP, Casa and Italia businesses, which have combined annual sales of approximately US$200 million, was US$66 million consisting of US$50 million in cash, US$10 million in the company’s common shares and contingent consideration of US$6 million.

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