Premium Brands Holdings Acquires Buddy's Kitchen, Invests In Shaw Bakers

Posted On: 12/7/2017

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VANCOUVER -- Premium Brands Holdings Corp., a Canadian producer, marketer and distributor of branded specialty food products, has acquired Buddy's Kitchen from its founding family and management. It has also invested in Shaw Bakers.

The news follows a separate announcement that Premium Brands Holding acquired sandwich maker Raybern Foods.

Premium Brands said the total purchase price for the combined transactions is $156.5 million.

Buddy's, based in Burnsville, MN, manufactures sandwiches and other prepared meals with a focus in the airline and convenience store channels. It operates two production facilities in the Minneapolis area.

San Francisco-based Shaw Bakers manufactures and distributes fresh and frozen artisan breads and pastries and operates a production facility in the greater San Francisco area.

On a combined basis, Premium Brands said Buddy's Kitchen, Raybern Foods and Shaw Bakers have annual sales of approximately $115 million.

"These transactions both diversify and greatly enhance our sandwich platform's growth opportunities and move it significantly closer to its objective of becoming North America's leading sandwich manufacturer," said Premium Brands chief executive George Paleologou.