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

New signs and more aim to make sense of North Cowichan’s trails

Strategy begins with Maple Mountain and Mount Tzouhalem

Games opening ceremonies promise to be magical

The Cowichan 2018 BC Summer Games will kick-off on Thursday, July 19… Continue reading

‘The Little Prince’ lands on Chemainus Theatre stage starting this weekend

It’s a magical experience for young and old: a classic tale comes to the stage

Club’s banner offers warm welcome at Cowichan Secondary

It’s hung above the inner door in the main lobby of the school on James Street

Drivesmart column: No playing in the street!

The residential street we lived on was treated as an extension of the front yard

REPLAY: B.C.’s best video this week

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

Cowichan Coffee Time: Mounties partner with CTRA, plus bursaries

• Cowichan Spirit of Women has accomplished a lot in the Valley… Continue reading

Coming up in Cowichan: Boots full of treasure, Dementia workshop, MP’s town hall meeting

Celebrating five years at the Station with ‘Loot in the Boot’ Cowichan… Continue reading

VIDEO: Firefighters put out brush fire in Nanaimo

Fire broke out in the area of a new development under construction in East Wellington

Former NHL goalie Ray Emery drowns in Lake Ontario

Police say the 35-year-old’s death appears to be a ‘case of misadventure’

Air quality statement warns of smoky air for Kamloops area

Environment ministry says area on north side of Thompson River may be affected by wildfire smoke

Pussy Riot claims on-field protest at World Cup final

Russian protest group claimed responsibility after four people ran onto field in police uniforms

Fans party on Montreal streets after French World Cup win

To city is home to nearly 57,000 French nationals

B.C. VIEWS: Making private health care illegal again

Adrian Dix battles to maintain Cuba-style medical monopoly

Most Read