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

Burns Lake to scrap fireworks ban

Fireworks still illegal to sell and store under proposed bylaw

Humboldt strong in Burns Lake

Readers share their #jerseysforhumboldt photos

Campaign for extended ferry service sailing on

Southside residents want 20-hour service

Filling in the cracks on Eighth Avenue

Plans scaled back after grant application rejected

NDP gives Liberal budget ‘failing grade’ on gender equality

Nanaimo-Ladysmith MP Sheila Malcolmson said budget doesn’t do enough to focus on pay equity

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Builder of Kinder Morgan reinforces concerns over project

B.C. heads to court over pipeline jurisdiction as builder says doubt warranted

Health committee cheers idea of national pharmacare program, but cost an issue

Conservative health critic Marilyn Gladu says she fears costs could be far higher than $19 billion

Canada’s oldest blood donor says it’s all gain, no pain after decades of giving

Great-grandmother and Coquitlam, B.C., resident has been donating blood since the late 1940s

Union says Trump bullying threatens hundreds of B.C. pulp mill jobs

Fear mounts that new U.S. anti-dumping duties could price Catalyst mills out of business

B.C. real estate regulator to undergo NDP review

B.C. real estate agents were self-regulated until 2016, when BC Liberals appointed superintendent

B.C. pizza shop broken into 4 times in 2 weeks

A Vernon business owner is beginning to feel targeted

Man accused of Abbotsford school stabbing hearing voices, intensely paranoid

Lawyer says Gabriel Klein not fit to stand trial in May because of deteriorating mental state

Most Read