Premium Brands to buy Ontario rib processor Skilcor Foods
Skilcor operates a 34,000 sq. ft. plant outside Toronto, boosting the Vancouver-based company's Ontario footprint
VANCOUVER—Premium Brands Holdings Corp. is taking another bite out of the Ontario meat processing industry.
The B.C.-based company, which owns a range of food processing and distribution assets in both Canada and the U.S. said Sept. 28 it has agreed to acquire Brampton, Ont.-based Skilcor Food Products.
Terms of the deal were no disclosed, but Premium Brands said Skilcor posts annual sales of approximately $27 million.
The Ontario company has been in business since 1969 and produces pre-cooked back ribs, along with chicken wings and several other products. Skilcor operates out of a 34,000 sq. ft. plant in the Toronto suburbs built in 2006.
George Paleologou, Premium Brands’ president and CEO, said the deal will add to the company’s “rapidly growing” footprint in central Canada.
“It will not only expand our portfolio of products but will also give us specialized production capacity that will enable us to provide customers with premium quality differentiated protein solutions in the high growth ready-to-eat product category,” he said in a statement.
Skilcor’s management team will stay on following the acquisition.
The deal follows Premium Brands’ purchase of Barrie, Ont. bacon and beef processor Leadbetter Foods earlier this month.