Premium Brands Acquire Buddy’s Kitchen, Raybern Foods
PRESS RELEASE: (premiumbrandsholdings.com): Premium Brands Holdings Corp., a producer, marketer and distributor of branded specialty food products, completed three transactions:
- The acquisition of a 100% interest in Minnesota-based Buddy’s Kitchen Inc. from its founding family and management
- The acquisition of a 100% interest in California-based Raybern Foods from TSG Consumer Partners, management and other shareholders
- The purchase of a 50% interest in California-based Shaw Bakers.
Buddy’s is a manufacturer of sandwiches and other prepared meal solutions for a variety of customers, with a particular focus on the airline and convenience store channels. It operates two production facilities in the Minneapolis area.
Raybern’s is a manufacturer of branded specialty sandwiches for the U.S. retail market and operates a facility in Tupelo, Miss. Its products include the #1 selling Philly Cheesesteak sandwich in the U.S. and other frozen and refrigerated sandwiches and wraps.
Shaw Bakers is a manufacturer and distributor of fresh and frozen artisan breads as well as a range of sweet and savory pastries. It operates a facility in the greater San Francisco area.
On a combined basis, Buddy’s, Raybern’s and Shaw Bakers have annual sales of approximately US$115 million.
“Buddy’s and Rayburn’s greatly complement our existing businesses as well as each other,” said Mr. Steve Sposari, president of Premium Brands’ North American Sandwich Group, in a release announcing the acquisitions. “With Buddy’s, we gain a new line of unique and innovative products, a very flexible production platform with excess capacity and significantly improved access to the U.S. convenience store and airline segments. Raybern’s provides us with one of the leading premium sandwich brands in the U.S. and will enable us to strengthen and expand our reach further in the U.S. retail channel.”
