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

Castlegar council set to rule on three retail cannabis proposals

Residents have until Dec. 27 to comment on the business proposals

West Kootenay police take 18 impaired drivers off the road

Eight drivers were criminally impaired, says Sgt. Badry from West Kootenay Traffic Services

West Kootenay highways a mess as heavy snowfall continues

‘Roads are very icy, people have to be patient and have to slow down’

Nelson-area man wants trapping laws changed after dog killed

Louis Seguin’s 10-month-old Australian shepherd died in a body-gripping trap last month

Snowfall warning across the West Kootenay

A strong Pacific frontal system had Environment Canada issuing a snowfall advisory early Tuesday

Man caught on camera allegedly trying to defraud ICBC

Auto-insurer warns B.C. drivers to record info after crashes

‘People talk about deep sadness:’ Scientists study climate change grief

Some call it environmental grief, some call it solastalgia — a word coined for a feeling of homesickness when home changes around you.

As protectors abandon Trump, investigation draws closer

Cohen was sentenced Wednesday to three years in prison for an array of crimes.

Senate delays start of sittings in new home, delaying start of broadcasts

The Senate and House of Commons are moving into temporary homes for the next decade as a result of long-planned and badly needed renovations to the Centre Block.

UK leader seeks EU lifeline after surviving confidence vote

EU leaders gather for a two-day summit, beginning Thursday, which will center on the Brexit negotiations.

French police try to catch attack suspect dead or alive

Local authorities increase death toll to three, including 13 wounded and five in serious condition

BCHL’ers blanked by Russia at World Junior A Challenge

Canada West loses battle of the unbeaten teams in the preliminary round

Second Canadian missing in China after questioning by authorities

Michael Spavor, founder of a non-profit that organizes cultural-exchange trips to North Korea, “is presently missing in China”

Cannabis gift ideas for this holiday season

Put the green in happy holidays, now that cannabis is legal in Canada

Most Read