Premium Brands Holdings Corporation (TSX:PBH) has acquired Ready Seafood Co., one of the leading processors, distributors and marketers of lobsters in the U.S.
Ready Seafood Co. (www.readyseafood.com), based in Portland, Maine, was founded in 2004 by brothers John and Brendan Ready and under their stewardship has grown from a small start up to one of the leading processors, distributors and marketers of lobsters in the U.S. Shipping to all major destinations both domestic and international, Ready Seafood sells over 15 million pounds of live and processed lobster annually.
“We are very excited to be joining the Premium Brands group. Its unique culture and core values, which includes commitments to producing only premium quality products, constant innovation and long term decision making, makes Premium Brands an ideal partner for us.” John Ready Co-CEO, Ready Seafood
"With Premium Brands we have found a partner that not only shares our vision for the future but also understands and respects our distinct culture, which is at the heart of our success." said Brendan Ready, Co-CEO of Ready.
Premium Brands Holdings Corporation (www.premiumbrandsholdings.com), headquartered in Richmond, British Columbia has over $2 billion in annual revenue. Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada and the United States.
“We are very pleased to be partnering with John, Brendan, and their talented management team. They are disruptors in what has been a relatively stable industry and have not only brought about significant innovation to the segment but have also played a lead role in ensuring the long term sustainability of the industry.” George Paleologu President and CEO, Premium Brands
Originally established in 1935, Bigelow LLC is an independently owned M+A advisory boutique with a singular and passionate focus: entrepreneur owner-managed businesses. Bigelow has a reputation for having a unique understanding of the special requirements of the owner-managed, entrepreneurial operating company in building, and ultimately capturing enterprise value.