Foster Farms has finalised an agreement to transfer ownership of its network of facilities in Farmerville, Louisiana to poultry processor Case Farms.
In a statement, Foster Farms said the transaction includes the fresh chicken, prepared foods, and protein conversion facilities located in Farmerville, as well as the feed mill in Arcadia and the hatchery in Athens, Louisiana.
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Financial terms of the sale were not disclosed. However, a statement from Foster Farms said both companies “are committed to a smooth transition for their team members, customers, and suppliers”.
Foster Farms, owned by private equity firm Atlas Holdings, said it carried out the sale as part of its “focus on growing its core branded retail and foodservice channels”.
The statement pointed to the move aligning “with Case Farms’ strategic growth plan to enhance flexibility for its customers”.
Mike Popowycz, vice chairman and CEO of Case Farms, explained further: “The acquisition fits Case Farms’ strategic growth plan and provides flexibility to provide our customers with the products they need to grow their business.”
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By GlobalDataJayson Penn, CEO of Foster Farms said: “We want to extend our gratitude to the entire Farmerville team for their dedication and hard work at Foster Farms.
“We are proud to have been part of the Farmerville community and to have worked closely with our elected leaders to position this important complex for sustained success.
“We look forward to seeing Case Farms continue to invest in the poultry operations in the region with the help of our colleagues joining their team today,” the CEO commented.
Penn added that Foster Farms was now “even better positioned to serve the millions of consumers who have made our brand a part of their lives for generations.”
In January, Foster Farms revealed plans to stop fresh turkey processing at its Turlock facility in California in May
The company at the time said it was responding to “changes in market demand”.
