Goldsmith Agio Helms announces the sale of the partnership units of its client, Centennial Foodservice (CFS), to Premium Brands Income Fund (PBI) for approximately $84 million (Canadian).
George Paleologou, PBI president and trustee, said, “The combination of its foodservice focused network and our existing proprietary distribution networks, which focus on specialty retailers, convenience stores and the concessionary industry, will enable us to sell and distribute our specialty food products directly to 25,000 customers across western Canada.”
CFS specializes in custom cutting and supply of “center-of-the-plate” protein products. It distributes its focused product line to the hotel, restaurant, and institutional (HRI) industry through eight plant and distribution branches and one exclusive dealer across western Canada. The distributor services more than 4,500 HRI operators.