Brio Acquires Snack and Food Packaging and Distribution Business

Brio Industries Inc. (Vancouver, BC), a Canadian packager and distributor of juices, waters, soft drinks and new age beverages, has entered into an agreement to acquire Can-Am Distributors Ltd. and Alamo Snacks Ltd. (Edmonton, AB) for a combination of cash and shares. Details were not announced, however the transaction was structured to result in only minor dilution to existing Brio shareholders.

Can-Am and Alamo package and distribute a wide range of snacks, confection and food products, throughout Canada including branded products such as Little Debbie's, Vista Bakeries, Biscuits Leclerc Ltee and Interbake Foods Inc. The company also carries its own brand name products and produces and distributes private label snacks for retail customers. In addition to operating their own snack plant in Edmonton, Can-Am owns minority interests in two other snack and confection production facilities and distributes the products produced there.

"The business of Can-Am and Alamo is extremely complimentary to our existing business, both product-wise and geographically," said Brio Chairman and CEO Ralph McRae. "Of even greater importance is that Can-Am and Alamo's products nicely balance the seasonality of Brio's beverage business."