Newspaper article The Canadian Press

Premium Brands Buying Montreal Meat Firm C&C Packaging for Up to $146 Million

Newspaper article The Canadian Press

Premium Brands Buying Montreal Meat Firm C&C Packaging for Up to $146 Million

Article excerpt

Premium Brands buying Montreal meat firm

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VANCOUVER - Premium Brands Holdings Corp. says it will acquire Montreal-based C&C Packing Inc. and affiliate Premium Meat Packers in a cash-and-share deal worth up to $146 million.

Vancouver-based Premium (TSX:PBH) said the purchase price includes $102 million in cash and almost 515,000 shares. An additional $20 million is also part of the deal, but the sum can be lowered if earnings targets aren't realized.

C&C is a leading supplier of fresh and frozen meat to retailers and food service distributors in Central and Eastern Canada. Its annual sales are around $250 million.

The 42-year-old company is owned and operated by the sons of founder Stanley Cons, both of whom will join Premium Brands. …

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