Premium to buy Oberto, up McLean Meats stake for $237 mln

Canadian specialty food products company Premium Brands Holdings Corp (TSX: PBH) has agreed to buy the assets and operating divisions of Oberto Sausage Co, a Seattle, Washington-based producer of beef jerky and other protein-based snack foods. Premium Brands also said it increased its stake in McLean Meats Inc, a Vancouver-based supplier of organic processed deli meats, to 66.2 percent. The combined deals reflect a purchase price of about $237 million. Vancouver's Premium Brands, which also launched a $150 million bought deal financing, is backed by Pender West Capital Partners.

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