Hain Celestial’s US poultry venture has acquired a turkey processing business from meat giant Pilgrim’s Pride.
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Hain Pure Protein Corp. has bought a turkey production facility and distribution centre in New Oxford, Pennsylvania for an undisclosed sum.
Hain, which owns a 50.1% stake in Hain Pure Protein, has set up a new business, New Oxford Foods, to manage the newly-acquired operations.
Under the plans, New Oxford Foods will switch from a private-label, conventional turkey producer to process natural, antibiotic-free turkey, Hain Pure Protein said.
“New Oxford Foods will supply Hain Pure Protein’s Plainville operations with product to meet the increasing consumer demand to meet its current needs and to support added growth,” said Hain Pure Protein chairman and CEO David Wiggins. “New Oxford Foods will also add higher margin items to its product offerings such as tray pack and other value-added products.”
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By GlobalDataHain Pure Protein was set up in 2005 to establish FreeBird Chicken, which specialises in natural, organic and antibiotic-free chickens.
Last year, the business acquired Plainville Turkey Farm, a supplier of natural and antibiotic-free whole turkeys and deli turkey products in the Northeast and Mid-Atlantic regions of the US.
Investment fund Pegasus Capital Advisors owns the other 49.9% stake in Hain Pure Protein.
Pilgrim’s Pride said the deal would leave it to focus on its chicken business. Presidenr and CEO Clint Rivers said: “Despite the positive improvements made in our turkey business over the past few years, we found that our small size and scale in this segment made it difficult to achieve acceptable levels of profitability on a consistent basis.”
