10:06 AM EST, 12/30/2024 (MT Newswires) -- Premium Brands Holdings Corporation ( PRBZF ) , a producer, marketer and distributor of branded specialty food products, on Monday said it closed the acquisitions of NSP Quality Meats, Casa Di Bertacchi, and Italia Salami and completed the sale and leaseback of the company's Hempler's deli meats production facility in Washington.

The company said the total purchase price for the NSP, Casa and Italia businesses was US$66 million consisting of $50 million in cash, $10 million in the company's common shares and contingent consideration of $6 million. All three transactions are expected to be accretive to the company's 2025 earnings per share.

The company added that the sale and leaseback of the company's recently expanded Hempler's deli meats production facility resulted in gross proceeds of about $68 million.

"NSP and Casa will play major roles in supporting the continued growth of our market-leading branded cooked protein initiatives in the U.S. by providing much needed capacity and improving our access to additional key U.S. markets. In addition, these businesses will significantly enhance our Specialty Foods Group's ability to largely mitigate any potential border and tariff related risks," said Premium Brands ( PRBZF ) Chief Executive George Paleologou. "Italia is a smaller acquisition but provides our Concord business with much needed local production capacity to help support their very successful Marcangelo branded Italian charcuterie offerings."

Shares were down $0.56 or 0.7% at last look.

Price: 78.95, Change: -0.66, Percent Change: -0.83