Fort Capital is pleased to announce the closing of a sale of Freybe Gourmet Foods to Premium Brands Holding Corporation.
The transaction provides significant opportunities to help grow the Freybe business, leveraging both the sales and marketing infrastructure of Premium Brands’ deli meat platform as well as proprietary distribution networks in the foodservice and retail channels. Freybe’s modern production facility has significant unutilized production capacity, which will provide an attractive solution for replacing the capacity of Premium Brands’ deli meats production facility in Richmond, B.C. The Freybe management team, led by Sven Freybe, President and CEO, will continue to lead the Freybe business for Premium Brands.
The purchase price for the transaction is $60 million, including $5 million contingent upon Freybe being able to achieve certain performance targets. Premium Brands indicated it expects to complete a future sale and lease-back transaction of the Freybe production facility.
Taluswood Capital, a predecessor to Fort Capital, was retained by Freybe to act as financial advisor in the structuring, negotiating and closing of the transaction.