©Yorkshire Valley Farms
Premium Brands has continued its North American expansion efforts by acquiring a 62.6% stake in Ontario-based organic chicken processor Yorkshire Valley Farms for an undisclosed fee.
Yorkshire Valley Farms is one of Canada’s largest producers of organic fresh and frozen chicken products, which are predominantly sold under its Yorkshire Valley Farms brand in Canada.
The company operates a 40,000 square foot processing facility in Harriston, Ontario, and has annual sales of approximately CAD 65 million ($50 million).
George Paleologou, president and CEO of Premium Brands said: “We are delighted to be partnering with Yorkshire. Not only are we gaining another very talented management team, who over a relatively short period established Yorkshire as a leading player in the Canadian organic chicken market, but we are also expanding into a new and exciting high growth product category.
“Organic protein products are growing faster than the overall category in both Canada and the US. This transaction, which combines the unique strengths of Yorkshire with our wide range of resources and capabilities, strongly positions Yorkshire to accelerate its growth in this rapidly expanding market segment.
“Furthermore, Yorkshire will provide our other branded protein businesses with proprietary access to a relatively scarce resource as they continue to extend their leading position in premium, artisan and speciality value-added proteins.”
James Sculthorpe, president and CEO of Yorkshire Valley Farms added: “We chose to partner with Premium Brands based on their solid reputation as a supportive long-term investor that respects the unique cultures and values of the businesses they invest in.
“We are very much looking forward to a great future together and to leveraging Premium Brands various resources to strengthen our business and accelerate our growth.”
This investment is the latest move by Premium Brands to strengthen its position in the North American meat market, following a number of acquisitions over the last year.
In September 2017, Premium Brands agreed deals to acquire both Ontario-based meat company Leadbetter and pork rib producer Skilcor Food, both for undisclosed sums.
The company then built upon these acquisitions by purchasing US meat snack manufacturer Oberto Brands in order to increase its snacking portfolio.
© FoodBev Media Ltd 2021
World Beverage Innovation Awards – NOW OPEN FOR ENTRIES!
The awards celebrate excellence and innovation across the global beverage industry. Don’t miss out on having your innovations recognised on a global scale.
Deadline for entries 23 July – enter now!
Don’t get left behind
Start your free Foodbev magazine trial today and join thousands of fellow industry professionals in receiving food and drink trends direct to our business.
Click here to start your free trial
Your privacy We use small files known as ‘cookies’ to enhance your experience of the FoodBev website and analyse site-traffic. Read about how we use cookies or how you may control them in our updated privacy policy and cookie policy. If you continue to use this site, you consent to our use of cookies. Click the ‘OKAY‘ button at the top right of this panel to accept or click here for more information.