Oberto Brands Sale Closes, Secures Future Success

Founded in 1918, Oberto is one of North America's leading manufacturers of beef jerky and other protein-based snack foods.

Mnet 155808 Oberto Logo Listing

KENT, Wash., May 31, 2018 (PRNewswire) — Oberto Brands announced Thursday that it has completed the sale of its assets and operating divisions to Premium Brands Holdings Corporation.

"Our family is proud to have built and run Oberto for the last century," said Mr. Art Oberto, Chairman Emeritus. Mr. Oberto took over the family business in 1943 at age 16 and still today maintains close ties with it. "The sale of our business to Premium Brands not only ensures that its culture and values will be honored, but it will position Oberto for another 100 years of success."

"I would also like to take this opportunity to thank all of our consumers, customers, employees, and suppliers for their support over the years," said Mr. Oberto.

"While we have been successful as a family-owned business for decades, we are very excited about the opportunity to leverage the resources and expertise of Premium Brands to accelerate our growth," said Mr. Tom Hernquist, Oberto's President and CEO. "Consistent with Premium Brands' core value of respecting the culture and legacies of its partner companies, we will be keeping our headquarters and manufacturing operations here in Kent, and we will continue to deepen our relationship with the broader Seattle community."

Founded in 1918, Oberto is one of North America's leading manufacturers of beef jerky and other protein-based snack foods. Its brand is iconic in the Pacific Northwest, where hydroplanes racing on Lake Washington during Seafair have long born its logo. The company employs close to 500 people and has a proud legacy of commitment to the community. Its brands include Oberto, Pacific Gold, Pacific Gold Reserve, Lowrey's and Cattleman's Cut.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across the United States and Canada. Additional information on its businesses and investment philosophies is available on its website at www.premiumbrandsholdings.com.

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