FDBusiness.com

Premium Brands’ Washington-based subsidiary Hempler’s is to acquire Fletcher’s which sells a variety of premium bacon and fresh sausage products in the U.S.

Pacific Northwest under the Fletcher’s brand, has annual sales of approximately US$17 million. It was founded by a predecessor of Premium Brands in 1985, then later sold as part of a larger transaction in 2004.

Under the terms of the transaction, Hempler’s will be purchasing Fletcher’s US’s business and production equipment but not its plant in Algona, WA. Correspondingly, Hempler’s will be transferring production of Fletcher’s US’s products to other manufacturing facilities in the US including its plants in Ferndale, WA and Kent, WA.

“This transaction fits perfectly with our strategy of investing in companies with strong regional brands then providing their talented management teams with the resources needed to further strengthen their business and help accelerate their growth,” said George Paleologou, President and CEO. “Furthermore, this transaction brings together three of the U.S. Pacific Northwest’s most iconic specialty packaged meat brands, namely Hempler’s, Fletcher’s, and Isernio’s, which we acquired just last year. All of these brands are known for their authentic, top quality, specialty products and their long histories of community engagement and charitable giving.”

“I am very pleased to have Fletcher’s US join our family of lead brands,” said Stephen Bates, President of Hempler’s. “Earlier in my career I was a proud member of the Fletcher’s US organization and I am very excited about once again playing a part in the growth and development of the Fletcher’s US brand.”