Premium Holdings to acquire Oberto Brands
Oberto Brands has reached a definitive agreement to sell substantially all of the assets and operating divisions of the company to Premium Brands Holdings.
Oberto Brands has reached a definitive agreement to sell substantially all of the assets and operating divisions of the company to Premium Brands Holdings. The transaction is expected to close within the next four to six weeks, subject to customary closing conditions, and will enable Oberto to continue growing in the future.
Founded in 1918, Oberto is one of North America’s leading manufacturers of beef jerky and other protein-based snack foods and is headquartered in Kent, Wash. The family-owned company that employs close to 500 people has brands that include Oberto, Pacific Gold, Pacific Gold Reserve, Lowrey’s, and Cattleman’s Cut.
“While Oberto has been successful as an independent, family-owned business for over 100 years, the marriage with Premium Brands will enhance our ability to grow and thrive for the next 100 years,” said Tom Hernquist, president and CEO of Oberto. “Premium Brands has a sterling track record of nurturing and growing family-owned businesses with their extensive meat expertise, capital investment philosophy, procurement and distribution platforms, and an operating model focused on supporting and developing each operating business unit.”