By Glacier FarmMedia Staff
Premium Brands, a leading specialty food manufacturing and food distribution business in Canada and the U.S., has procured a 62.6 per cent interest in Yorkshire Valley Farms Ltd., an Ontario-based processor and marketer of organic chicken products.
Yorkshire has annualized sales of approximately $65 million and operates a modern 40,000 square foot processing facility located in Harriston, Ontario. The company was founded in 2010 by a group of farming families led by Tony Ambler and Tom Ahrens.
“We are delighted to be partnering with Yorkshire. Not only are we gaining another very talented management team, who over a relatively short period established Yorkshire as a leading player in the Canadian organic chicken market, but we are also expanding into a new and exciting high growth product category,” said George Paleologou, President and CEO of Premium Brands.
“Organic protein products are growing faster than the overall category in both Canada and the US. This transaction, which combines the unique strengths of Yorkshire with our wide range of resources and capabilities, strongly positions Yorkshire to accelerate its growth in this rapidly expanding market segment,” added Paleologou.
“We chose to partner with Premium Brands based on their solid reputation as a supportive long term investor that respects the unique cultures and values of the businesses they invest in,” said James Sculthorpe, President and CEO of Yorkshire.
“We are very much looking forward to a great future together and to leveraging Premium Brands various resources to strengthen our business and accelerate our growth,” added Sculthorpe.
“We are very proud of what we have accomplished over the last eight years and have no doubt that Premium Brands is the right partner to help us continue our legacy of raising and producing high quality chicken in Canada,” said Tony Ambler, co-founder and Chairman of Yorkshire.”
“We wanted to find a partner that would not only help to take Yorkshire to the next stage in its development but would also honour our employees, who are at the core of our success,” said Tom Ahrens, co-founder and Director of Yorkshire. “I am confident that Premium Brands is that partner,” added Ahrens.