Premium Brands Holdings Corporation Announces Investment in Expresco Foods
Premium Brands Holdings Corporation (TSX: PBH), a diversified specialty food company, announced today that it has acquired a majority interest in Expresco Foods Inc., a leading manufacturer and marketer of high quality grilled protein products, including handmade specialty seasoned skewers, for customers in both the foodservice and retail channels.
Expresco, which sells its products across Canada and the U.S. under the West End brand, has annualized sales of approximately $55 million and operates out of a modern 44,000 square foot production facility located in Montreal, Quebec. It was founded in 1987 by Mr. Dennis Papakostas and, in recent years, has seen substantial growth due to its products meeting consumer demand for convenient, healthy and flavourful protein solutions that enhance and complement their daily meal, snack and salad choices.
“This transaction is another example of how we work with talented and successful entrepreneurs to create customized ownership solutions that meet their unique personal and business needs,” said Mr. George Paleologou, President and CEO. “Dennis and his long-term business partner, George Tiritidis, have done an exceptional job in building Expresco and we are honored that they have chosen us to be their partners in the next evolution of its development.”