CPPIB Invests in Premium Brands
The Canada Pension Plan Investment Board has signed a deal to invest about $200 million in specialty food company Premium Brands Holdings.
Premium Brands intends to use the cash to repay debt, finance organic and acquisition growth opportunities and for general corporate purposes.
Based out of Richmond, B.C., Premium Brands said it has also signed agreements with certain shareholders to raise an additional $60 million through the sale a total of 788,000 shares at $76.02 per share.
Some of the company’s brands include Audrey’s, B&C Foods, Belmont Meats, Bread Garden GO, Buddy’s Kitchen, C&C Packing, Centennial Foodservice, Conte Foods, Creekside Bakehouse, Diana’s Seafood, Deli Chef, Duso’s, Fletcher’s US, Freybe, Gloria’s Best of Fresh, Gourmet Chef, Expresco, Grimm’s, Harlan’s, Shaw Bakers, Skilcor Food Products, Stuyver’s Bakestudio and SK Food Group.