Tricor Pacific Capital buys Confederation Freezers’ real estate

Canadian family office Tricor Pacific Capital has launched Tricor Property Partners, an industrial real estate holdings platform.

Canadian family office Tricor Pacific Capital has launched Tricor Property Partners, an industrial real estate holdings platform. The platform will hold its latest acquisition, the real estate of Confederation Freezers, a Brampton, Ontario-based provider of temperature-controlled warehousing and cold storage services. Tricor partnered in the deal with Premium Brands Holdings Corp. No financial terms were disclosed.


Tricor Announces Launch of Tricor Property Partners, Acquisition of Confederation Freezers Real Estate and Surpasses 1,300,000 Sq Ft of Industrial Space

Vancouver, BC – March 26, 2021 – Tricor Pacific Capital Inc. (“Tricor”) launched its industrial real estate holdings platform, Tricor Property Partners (“Tricor Properties”), to hold and manage its portfolio of mature, industrial income properties upon its latest acquisition of the real estate of Confederation Freezers, in partnership with Premium Brands Holdings Corporation (“Premium Brands”).

Today, Tricor Properties’ portfolio encompasses 13 industrial facilities in four provinces/states in Canada and the U.S., accounting for over 1.3 million sq ft of buildings and 70 acres of land.

Confederation Freezers is an Ontario-based business providing temperature-controlled warehousing and cold storage services, operating a nationwide network to service clients in both Canada and the U.S. A testament to their industry prominence, Confederation Freezers has been family owned and operated for four generations.

As a longstanding investor in Premium Brands, Tricor now adds the Confederation Freezers real estate to its existing joint real estate holdings with Premium Brands consisting of four additional properties across in British Columbia and Quebec.

“We are thrilled to support Premium Brands’ real estate transaction with Confederation Freezers. This is a very strong fit with Tricor Property Partners’ acquisition strategy to create winning sale-leaseback partnerships with great business operators and substantial industrial real estate that is strategic to its underlying operating company,” stated Derek Senft, Managing Director of Tricor who led the transaction.

“We are proud to partner with Premium Brands in this strategic acquisition. This will be a long-term hold, and we are keen to do more in this space. We continue to be impressed by the Premium Brands team, which now extends to the Confederation Freezers story,” stated Shawn Lewis, President and Managing Director of Tricor, who joined the firm in the Fall of 2019.

“We are pleased to complete this recent sale-leaseback transaction with Tricor, which complements our business acquisition strategy whilst still retaining long-term security over our strategic real estate,” said George Paleologou, CEO of Premium Brands.

This transaction represents a milestone in the long-term development of Tricor Properties’ strategy to acquire and hold investments in mature industrial income properties across North America. Tricor Properties will continue to pursue single-tenant, industrial, sale-leaseback opportunities with long-term-oriented partners.

Bryan & Company LLP and Norton Rose Fulbright acted as legal counsel for Tricor. BMO Bank of Montreal led the financing with National Bank Financial.

More Information on Confederation Freezers – Confederation Freezers provides cold storage solutions primarily in the form of warehousing and transportation, supported by a nationwide network. Family owned and operated for four generations, the company’s success has relied on a combination of experience and commitment, ensuring reliability, efficiency and excellent service quality.

More Information on Tricor Pacific Capital – Tricor Pacific Capital is a leading Canadian family office investing its own capital to build winning partnerships and with a genuine reputation as the partner of choice since 1996. The Vancouver-based team combines decades of transaction and operational experience, having made control investments in over 80 private companies in a variety of sectors, including manufacturing, distribution, food, transportation services, industrial and real estate.

More Information on Premium Brands Holdings Corp – Premium Brands is a publicly-traded Canadian specialty food manufacturing and distribution company servicing food service, retail and wholesale customers across North America. The company has an extensive portfolio of branded specialty meats, seafood, snacks and other prepared foods.

For more information on the transaction, please contact: Derek Senft, Managing Director (; 604-726-5051) or Shawn Lewis, President & Managing Director (; 604-646-4370).