C&C: PE-backed Premium Brands to acquire C&C for $146 mln

Canadian specialty foods producer Premium Brands Holdings Corp (TSX: PBH) has agreed to acquire C&C Packing Inc and its affiliate Premier Meat Packers (2009) Inc. The $146 million purchase price includes a $102 cash payment. Montréal-based C&C is a supplier of fresh and frozen meat products to retailers and food service distributors in central and eastern Canada. Premium Brands said the deal, expected to close in August, will allow it to create a national protein distribution and trading platform. Vancouver-based Premium Brands is a portfolio investment of Canadian family-backed private equity firm Pender West Capital Partners.