Sector News

Premium Brands announces acquisition of Fletcher's US

August 16, 2016
Food & Drink

Premium Brands Holdings Corporation, a leading producer, marketer and distributor of branded specialty food products, announced today that its Washington based subsidiary, Hempler Foods Group LLC (Hempler’s) has entered into an agreement to acquire the business and certain assets of Washington based Fletcher’s Fine Foods (Fletcher’s US).

The transaction is expected to close in September 2016 and is subject to customary conditions.

Fletcher’s US, which sells a variety of premium bacon and fresh sausage products in the U.S. Pacific Northwest under the Fletcher’s brand, has annual sales of approximately US$17 million. It was founded by a predecessor of Premium Brands in 1985 then later sold as part of a larger transaction in 2004. Under the terms of the transaction, Hempler’s will be purchasing Fletcher’s US’s business and production equipment but not its plant in Algona, WA. Correspondingly, Hempler’s will be transferring production of Fletcher’s US’s products to other manufacturing facilities in the US including its plants in Ferndale, WA and Kent, WA.

“This transaction fits perfectly with our strategy of investing in companies with strong regional brands then providing their talented management teams with the resources needed to further strengthen their business and help accelerate their growth,” said Mr. George Paleologou, President and CEO.

“Furthermore, this transaction brings together three of the U.S. Pacific Northwest’s most iconic specialty packaged meat brands, namely Hempler’s, Fletcher’s, and Isernio’s, which we acquired just last year. All of these brands are known for their authentic, top quality, specialty products and their long histories of community engagement and charitable giving,” added Mr. Paleologou.

“I am very pleased to have Fletcher’s US join our family of lead brands,” said Mr. Stephen Bates, President of Hempler’s. “Earlier in my career I was a proud member of the Fletcher’s US organization and I am very excited about once again playing a part in the growth and development of the Fletcher’s US brand.”

Source: Premium Brands

comments closed

Related News

February 4, 2023

Tetra Pak execs flag plant-based ice cream development hurdles as indulgent offerings expand

Food & Drink

Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.

February 4, 2023

Examining the meaning of eco-labels: Is it time for mandated methodology?

Food & Drink

A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.

January 29, 2023

Danone appoints three new deputy CEOs

Food & Drink

Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.

How can we help you?

We're easy to reach