Fort Capital Partners is pleased to announce the closing of the 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.
Freybe Gourmet Foods is one of Western Canada’s leading manufacturers of premium gourmet deli meats, with annual sales of approximately $78 million and a state-of-the-art 118,000-square-foot production facility located in Langley, B.C. Freybe had been owned an operated by the Freybe family, which founded the business in Germany in 1844.
Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses, servicing over 22,000 customers from operations in the Canadian provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, as well as the U.S. states of Nevada and Washington. Premium Brands is listed on the Toronto Stock Exchange under the symbol “PBH”.
Fort Capital Inc. is an investment bank that works with public and private companies in Canada. The firm draws from collective capital markets experience to provide its clients with proven, accessible and independent investment banking advice and transaction execution. For more information, visit fortcapital.ca.