Meat companies Rosen’s Diversified Inc of Fairmont, Minnesota and American Foods Group of Green Bay, Wisconsin have announced the completion of their merger agreement.
The new national food company will be known as American Foods Group, LLC and have operating plants in Minnesota, Wisconsin, South Dakota, Ohio, Nebraska and Virginia.
The parties announced their intent to merge on 15 July 2005. Combined total sales for the two meat companies last year were more than $1.5bn.
Terms of the agreement have not been announced, however, RDI‘s agricultural chemical distribution and fertilizer business units were not part of the transaction.
Tom Rosen, CEO of Rosen’s Diversified, and Carl Kuehne, CEO and owner of American Foods Group, will serve as co-chairmen and co-CEOs of the new company. Greg Benedict will be COO and Robert Hovde will be the CFO.
“Our companies complement each other’s business,” Rosen said. “By merging the firms, it will strengthen our ability to remain competitive in the meat industry.” Rosen said the firms’ similar business philosophies will continue in the new firm. “We believe in caring for our customers and caring for our employees. That will not change.”
Kuehne said that the merger would provide new opportunities and areas of growth. “Combining our wide variety of products and services will result in an even greater customer focus,” he said. “Plus, company growth means growth in the employment sector and new work opportunities for our associates.” The merged company will employ more than 3,000 associates.