Farmer-owned Norbest secures fresh investment

Farmer-owned Norbest secures fresh investment

Feed and commodities group Heiskell and asset manager Amerra Capital Management have acquired minority stakes in US turkey farmer-owned co-operative Norbest.

The processor's branded product line includes whole turkeys, speciality roasts, deli meats, fresh and frozen ground turkey, and ready-to-cook sausage patties. The products are sold throughout the US and in over two dozen countries, the investors revealed.

Matthew Cook, CEO of Norbest, said the investment marked the start of a "new growth phase" for the company. "We are excited to partner with both Heiskell and Amerra given their deep knowledge of the agricultural markets and food supply chain. As Norbest pursues a new phase of growth and expansion to meet our customers' demand for top quality, healthy turkey products, we are excited to have partners who are committed to Norbest's future success."

Specific terms of the transaction were not disclosed.