CPPIB invests $200 mln in growth of food company Premium Brands
Canada Pension Plan Investment Board (CPPIB) has invested about $200 million in Premium Brands Holdings Corp (TSX: PBH), a Vancouver-based owner of specialty food manufacturing and distribution businesses in Canada and the United States. As a result of the private placement, CPPIB will hold 7.1 percent of outstanding common shares. Premium Brands also launched a $60 million concurrent financing with certain shareholders. The proceeds of both deals will be used for debt repayment, organic and acquisition growth, and other priorities. President and CEO George Paleologou said the partnership with CPPIB will allow Premium Brands to "look beyond North America."
21 May 2019•4 mins read
