Kent, WA — Oberto Brands has agreed to sell “substantially all of the assets and operating divisions” of the company to Premium Brands Holdings Corp., the meat snack maker reports. The deal is expected to close in the next four to six weeks, subject to customary closing conditions.
The company, which was founded in 1918, employs nearly 500 to produce brands including Pacific Gold, Lowrey’s and Cattleman’s Cut, as well as the house brand.
“While Oberto has been successful as an independent, family-owned business for more than 100 years, the marriage with Premium Brands will enhance our ability to grow and thrive for the next 100 years,” says Tom Hernquist, Oberto president and CEO. “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.”