Industry News

Premium Brands Completes Acquisition of Three Specialty Food Producers

United States: Premium Brands has acquired Island City Baking and Conte Foods for USD 15.30 million. Island City Baking which is into manufacturing of fresh and frozen artisan bread, with a 45,000-square-foot production facility located in Richmond, B.C. serves retail, food service consumers mostly in southern British Columbia.

The company Conte Foods is into distributor of specialty food products and imports from Europe. The company has a manufacturing facility spread across 16,000-square-foot facility in Burnaby, British Columbia.  Conte and Island City accounted for a combined sale of USD 15 million.

Premium brands acquired business and assets of Larosa Fine Foods manufacturer and wholesaler of Italian products for 0.5 million dollars and will be moving its operations form Vancouver, B.C., into Conte Foods’ Burnaby facility.

According to TechSci Research, this would increase the distribution network of the company mainly in the British Columbia, the company services over 25,000 customers and its brands and businesses and recorded a sale of USD1.48 billion.