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

Thousands attend 31st TD Art Gallery Paint-In

Artists display their work along 20 blocks of Moss Street

Details scarce as union confirms probe underway involving Victoria care homes

Island Health, VicPD offer no comment on report of investigation into alleged sexual assaults

Swimmer set for double crossing of Georgia Strait

Jill Yoneda’s Aug. 3 swim will benefit Canuck Place

Sport fishing ban protest organizers trolling for attention

Hook-less anglers hitting Sooke area waters July 29 to protest DFO’s summer fin-fish ban

From hot dog to not dog: stuffed toy prompts car break in

The stuffed dog had been in the backseat for 18 years without problems

Here’s what you need to know about Day 2 at the BC Games

From equestrian to volleyball to swimming, all 18 events in full swing here in the Cowichan Valley

No Name brand chicken nuggets recalled due to possible salmonella

Canadian Food Inspection Agency says multiple illnesses reported in B.C., Alberta and Ontario

Lodeiro scores twice to help Sounders beat Whitecaps 2-0

Seattle’s Nicolas Lodeiro opened the scoring in the fifth minute when he converted a penalty kick

Race walker breaks 18-year-old BC Games record

Zone 6 athlete Olivia Lundman crossed finish line with ease, to loud cheers in Cowichan

PHOTO GALLERY: BC Games Day 2

A brief look at action from the 2018 BC Summer Games in the Cowichan Valley

BC Wildfire update on 14 major Okanagan blazes

Watch the media briefing on the current fire situation in the Okanagan.

UPDATED: Kinder Morgan pipeline protesters defy eviction order

Demonstrators at Camp Cloud in Burnaby say they won’t leave, but will meet with city officials

Ex-Raptor DeMar DeRozan says goodbye to Toronto on Instagram

The guard was traded to the San Antonio Spurs earlier this week for Kawhi Leonard and Danny Green

Most Read