Richmond-based Premium Brands Holdings Corporation has acquired 100-per-cent of the shares of Toronto’s Belmont Meats Products Limited for $50 million. With annual sales of approximately $120 million, Belmont Meats manufacturers burger patties and a variety of customized, premium burgers for retail and foodservice customers across the country. According to a press release from Premium Brands, Belmont is also in the process of introducing a number of its products into the U.S. retail market. “We are not only very excited about Belmont’s business and the potential for it to grow under the Premium Brands umbrella, but also the role it will play in creating value in several of our other businesses,” said George Paleologou, president and CEO of Premium Brands, in a press release.
