Vancouver, BC - Fletcher's Fine Foods Ltd. announced three transactions relating to its Prepared Foods Division.
Fletcher's acquired a majority stake in a distribution company doing business as McSweeney's, which owns and operates a fleet of trucks distributing a full line of meat snack and other snack products to convenience stores throughout Western Canada. "McSweeney's will play a significant part in growing our Grimm's and Gran'pa Don's branded meat snack businesses," said Fred Knoedler, Fletcher's President and CEO.
Fletcher's also purchased equipment and intangible assets from Double E Foods, LLC of Seattle, Washington. "What makes this purchase so exciting is that we end up with the rights to the Torino's line of branded Italian meat products," said Heinz Grimm, General Manager of Fletcher's US operations. Torino's is a regional brand sold mainly in the Seattle area where it has been established since 1931.
Also, Fletcher's completed the acquisition of Harvest Meat Co. Ltd., of Yorkton, Saskatchewan. Harvest, which is expected to generate sales of approximately $20 million in 1998, manufactures and markets specialty prepared meat products.
"These initiatives are all driven by our goal to become the leading supplier of premium meat products in Western Canada and the US Pacific Northwest," said Knoedler. "By developing our Prepared Foods Division in general, and sales of branded processed meat products made from fresh pork in particular, we maximize the value of the fresh pork produced by our hog processing operations and reduce our exposure to the commodity driven fresh pork markets."
Fletcher's has been in the food processing business since 1917 and has facilities in Alberta, British Columbia, Oregon, Saskatchewan, and Washington.
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