VANCOUVER—Belmont Meats Products Ltd. has been purchased for $50 million by Premium Brands Holdings Corp.
Based in Toronto, Belmont is a privately-owned food processor that produces beef burger patties and several other beef products such as steak and roasts. It sells to restaurants and retailers including supermarkets, warehouse stores and specialty frozen-food outlets.
It recently celebrated the 50th anniversary of its founding in 1966, with annual sales of about $120 million.
Premium Brands is a Vancouver-based company that produces specialty meat products. It paid $49.2 million cash for Belmont plus shares worth $800,000.
The company has operations in six provinces from British Columbia to Quebec and four states.