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

Work continues to deal with flooding

Increased efforts to mitigate flooding at Sportsmens Bowl and downstream

Penticton sign gets an upgrade

Did someone forget how to spell Penticton?

Reel Reviews: Parlour games or video games

We say, “Rampage is silly fun and Truth or Dare is just silly”

Okanagan-Similkameen freshet looms large: district

Regional District of Okanagan-Similkameen says property owners have window to prepare for flooding

Final week for ALR input

Public consultation process closes April 30

Look back to simpler summers

Rotary honourees reminisce about South Okanagan summers

First West signs on to gender parity

First West and Valley First sign up with Minerva pledge

Low fog creates stunning views near Sicamous

Motorists on the highway between Salmon Arm and Sicamous were treated to spectacular scenery.

Dix says B.C. remains focused on fighting youth overdoses in wake of teen’s death

Elliot Eurchuk’s parents say he died at his Oak Bay home after taking street drugs

‘When everybody leaves: Counselling key to help Humboldt move on after bus crash

Dealing with life after a tragedy can be the worst part following a loss

Half-naked shooter guns down four, runs away in Nashville Waffle House shooting

Nashville police say they are looking for Travis Reinking in connection with the shooting

Child’s body found in river downstream from where boy went missing during flood

Three-year-old Kaden Young was swept out of his mother’s arms in February

B.C. VIEWS: Eliminating efficiency for farm workers

Don’t worry, NDP says, the B.C. economy’s booming

Most Read