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

Blue skies to continue in forecast for Williams Lake

Temperatures will hover below and above zero for the weekend, although there is a wind chill

VIDEO: Taking to the skies to protect moose in the Cariboo Chilcotin

Conservation Officer Service doubles patrols to oversee moose harvest

Province not doing enough for forestry sector, say Liberals

Although Minister of Forests says government working to diversify industry, rural economies

Dance in Common hosts A Visual Dance Art Show

Female artists from across Williams Lake came together to support Dance In Common last week.

Bullets blast off at speed skating competition

The Williams Lake Bullets left their mark in Kamloops earlier this month.

‘This is gangster,’ bait car thief declares on video

Footage from Abbotsford gains attention on social media

B.C. to fund gender-affirming surgeries for transgender people

Roughly 100 people in B.C. travel each year out of province for lower surgeries

U.S. mayor and dying dog’s roadtrip to B.C. goes viral

First vacation in three years came a month after blood cancer diagnosis

Federal fall update expected to offer more support for struggling news industry

Ottawa committed $50 million over five years for local journalism in ‘underserved communities’ last budget

UK’s May appeals to public on Brexit, braces for more blows

British Prime Minister Theresa May answered questions from callers on a radio phone-in, the day after she vowed to stay in office

UPDATED: $136M in transit funding coming to B.C.

The announcement was made at the BC Transit yard in Langford on Friday morning

Ottawa apologizes to Japanese family in B.C. after chopping historic cherry trees

Plaque installed in Prince Rupert to honour the memory of Shotaro Shimizu

Two B.C. police officers, held in Cuba for months, cleared of sex assault allegations

Port Moody Const. Jordan Long and Vancouver Const. Mark Simms have been in Cuba since March

Most Read