VANCOUVER, BRITISH COLUMBIA, Nov 18, 2010 (MARKETWIRE via COMTEX) — Premium Brands Holdings Corporation, a leading producer, marketer and distributor of branded specialty food products, announced today a 60% investment in Hub City Fisheries (Hub). Hub is a value added fresh seafood processor operating out of a modern facility located on Vancouver Island.
"Hub will play an integral role in the development of our rapidly growing seafood initiatives. In particular, our B&C Foods, Centennial and Maximum Seafood businesses will be working with Hub to generate new product offerings and programs for both their retail and foodservice customers," said Mr. George Paleologou, President and CEO.
"I am very excited to be joining the Premium Brands Group and look forward to working with them to accelerate Hub's growth," said Mr. Roger Paquette, President of Hub City Fisheries. "Recent investments in our processing facility will ensure we have the capacity to provide the Premium Brands Group with proprietary seafood solutions," added Mr. Paquette.
"Fresh seafood is an exciting and fast growing product category in the food industry," said Mr. Paleologou. "The addition of Hub, which has sales of approximately $10 million per year, will expand our seafood business platform to almost $100 million in annual sales," added Mr. Paleologou.
Source: Premium Brands Holdings Corp.