Premium Brands announces cornerstone investment from CPPIB

May 21, 2019

Torys represented Canada Pension Plan Investment Board with a team that included Matthew Cockburn, Josh Lavine, Jacob Posen and Claire Chapman (corporate/M&A).

On May 21, 2019, Premium Brands Holdings Corporation ("Premium Brands") announced that it completed a private placement from treasury of 2,631,000 common shares to Canada Pension Plan Investment Board ("CPPIB") at a price of C$76.02 per common share for aggregate gross proceeds of approximately C$200 million.

Premium Brands intends to use the net proceeds of the CPPIB Private Placement to repay debt, finance organic and acquisition growth opportunities and for general corporate purposes.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada and the United States.

Canada Pension Plan Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. At March 31, 2019, the CPP Fund totalled C$392 billion.

Further information can be found on Canada Newswire’s website.

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