Premium Brands to buy Ontario bacon, beef processor Leadbetter Foods
Leadbetter makes portion-cut steaks, frozen burgers and specialty bacon at a pair of plants in Orillia, Ont.
VANCOUVER—Premium Brands Holdings Corp. is scooping up another Ontario meat processor.
The B.C.-based company, which owns a range of food processing and distribution businesses in Canada and the U.S., said Sept. 19 it has agreed to acquire Orillia, Ont.’s Leadbetter Foods Inc. for an undisclosed price.
The deal follows Premium Brands’ $50 million purchase of Toronto burger producer Belmont Meats last October and will bring two additional manufacturing facilities under its banner.
Leadbetter makes portion-cut steaks and frozen burgers at one Orillia plant, as well as specialty bacon at a purpose-built facility that opened in Orillia in 2012.
“This transaction is the next step towards our objective of building a leading specialty protein platform in Ontario,” George Paleologou, the company’s president and CEO, said in a statement.
“Not only does Leadbetter perfectly complement our Ontario based Belmont Meats’ burger business but it will also help with the launch of our Centennial business’ Ontario operations when Centennial opens its new 105,000 square foot custom cutting and distribution facility in the Toronto region at the end of this year,” Paleologou added.
Though it did not disclose any financial details of the detail, Premium Brands said Leadbetter books annual sales of approximately $55 million.