Pierre Foods has entered into an agreement to purchase substantially all of the assets of Zartic and its affiliated distribution company Zar Tran, at a purchase price of US$94m plus the assumption of certain liabilities, subject to post-closing adjustments.
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Pierre expects to finance the purchase through an amendment to its existing Credit Agreement.
Georgia-based Zartic manufactures and distributed a variety of food items, including packaged beef, poultry, pork and veal products.
Pierre is a leading manufacturer and marketer of high-quality, differentiated food solutions, focusing on pre-cooked protein products and hand-held convenience sandwiches.
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