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

Quarterdeck restaurant, pub temporarily closed until summer

“We have decided to close the pub until April 30, 2019,” stated the pub’s announcement.

Port Hardy’s RCMP Staff Sgt. Wes Olsen: ‘It’s business as usual’ after cannabis legalization

Local RCMP will still be on the lookout for impaired driving despite cannabis legalization.

Jay Dixon finishes top three for School and District Leadership award

“I believe it’s all of our responsibility for our schools to provide quality education,” said Dixon.

7 Mile Landfill operations tender closes October

Taxes covering the landfill have not increased over the past 15 years and are not expected to soon.

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

Voters talk on Port Hardy’s municipal election

Port Hardy residents talked on local issues and reasons to vote

2018 municipal election: Few surprises on Vancouver Island

16 incumbent mayors will continue in their positions for four more years

Prank pizzas delivered to B.C. mayor on election night

The fake orders happened throughout Victoria mayor’s re-election campaign

MLA to become Nanaimo’s next mayor, could weaken NDP’s grasp on power

Leonard Krog’s win will trigger a byelection when he gives up his provincial seat

Horvat nets OT winner as Canucks beat Bruins 2-1

Young Vancouver star had spirited scrap earlier in contest

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

Voters talk on Port Hardy’s municipal election

Port Hardy residents talked on local issues and reasons to vote

Bushido Shotokan Karate-do Academy continues student intake until November

“Our goal is to endure no matter what you’re faced with,” said DeToro about local karate classes.

B.C. passenger caught smoking weed in a car issued $230 fine

Saanich police did a field sobriety test on the driver and deemed it safe for him to drive

Most Read