Premium Brands Holdings Corporation, a leading Canadian producer, marketer and distributor of branded specialty food products, announced that its Washington based subsidiary, Hempler Foods Group LLC 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.