US-based agri-food group Cargill has acquired ProPortion Foods, a manufacturer of cooked meat products sold into the retail and out-of-home channels across North America.
Cargill said in a statement issued yesterday (26 January) that the transaction for ProPortion Foods, founded in 2009 and based in Los Angeles, California, was completed in December, although it did not reveal the financial terms.
With the deal, Cargill inherits two manufacturing plants in Round Rock, Texas, and Vernon, California, which will supply the company’s own retail and foodservice customers.
Rob Stewart, the managing director for growth ventures at Cargill's North American protein business, said: "Our agreement with ProPortion Foods is an exciting next step as we continue to execute our growth strategy and build our value-added cooked business. We are investing in our future and look forward to growing the Cargill team and our presence in the southern and western US, while continuing to build our customer portfolio."
ProPortion Foods line-up includes cooked beef, pork, chicken and turkey products such as steaks and burgers and marinated meats, along with ready-to-eat meals.
"My partners and I worked really hard to create a great company in ProPortion Foods," said Brian Levy, a partner with the Los Angeles firm. "We're delighted that the business and our employees will have the opportunity to grow with Cargill."