Image: Facebook/Oberto Beef Jerky

Premium Brands buys century-old snack maker Oberto Sausage Company

The 100-year-old beef jerky company sold to Premium Brands by founding Oberto family

Premium Brands Holdings Corp. will expand its portfolio of specialty meats products with the acquisition of Seattle-based Oberto Sausage Company, a 100-year-old family-run business.

Oberto produces beef jerky and other snack foods under various brands including Oberto and Cattleman’s Cut.

The business was founded in 1918 by Constantino Oberto and later led by Constantino’s son Art Oberto, who still owns it, along with other family members.

Art Oberto said in a joint statement issued by the two companies that it was a difficult decision to sell the family-owned and operated business but he has been impressed with other companies have done under the Premium Brands umbrella.

The transaction, announced the Thursday, is expected to close within four to six weeks — subject to regulatory approvals.

Premium didn’t disclose the price of Oberto alone but did say it’s spending a total of $237 million for it and an increased stake in Vancouver-based McLean Meats Inc., which makes preservative-free and organic processed meats.

In conjunction with the acquisitions, a syndicate of underwriters has agreed to pay $150 million for about 1.3 million subscription receipts, issued by Premium, to be offered in Canada to investors. Each subscription receipt provides the right to receive one Premium Brand share, plus applicable dividend, once the Oberto deal closes.

Companies in this story: (TSX:PBH)

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Pilot project to address coal dust escaping from rail cars

Shuswap resident Marijke Dake pleased to see action by CP Rail, Teck Resources Ltd

BC Wildfire holding steady on Okanagan Complex

Evening update on Okanagan fire situation

Special board gets those with mobility challenges out on the water at Canoe Beach

A special beach chair was used to cross the uneven ground down to the water’s edge.

Okanagan Wildfires: Monday morning update on wildfires and evacuations

A Monday morning look at the major wildfires impacting the Okanagan and Similkameen.

BC Wildfire merges Mt. Eneas and Munro Lake fires

Large plume of smoke seen over the fire was a controlled event

BC Games: Day 3 wrap and closing ceremonies

The torch in the Cowichan Valley has been extinguished as Fort St. John gets ready to host the 2020 BC Winter Games

Nitty Gritty Dirt band returns to the South Okanagan

The Nitty Gritty Dirt Band will perform at the South Okanagan Events Centre

Soaring temperatures, high winds could worsen fires in B.C.’s southern Interior

Environment Canada’s forecast for the next week in the southern Interior does not inspire confidence, with temperatures in the 30s and winds gusting over 40 kilometres per hour.

Okanagan Mountain Park fire remains the same size

Crews built hand guards and continued to extinguish hot spots.

Iran dismisses Trump’s explosive threat to country’s leader

Trump tweeted late on Sunday that hostile threats from Iran could bring dire consequences.

Update: Police probe Toronto shooting that killed 2, injured 12; suspected gunman dead

Paramedics said many of the victims in Danforth, including a child, were rushed to trauma centres

Why do they do it? Coaches guide kids to wins, personal bests at the BC Games

Behind the 2,300 B.C. athletes are the 450 coaches who dedicate time to help train, compete

Reel Reviews: Floundering inferno

We quote Charlie Brown: “Good grief!”

Most Read