US private equity investor Atlas Holdings has announced its acquisition of California-based poultry company Foster Farms.
Founded in 1939, Foster Farms provides fresh, frozen and prepared poultry products, which are available nationwide. The company employs around 10,000 people and operates processing facilities in California, Washington, Louisiana, Oregon and Alabama.
“We are thrilled to welcome Foster Farms to the Atlas family of great global businesses,” said Atlas partners Sam Astor, Ed Fletcher and Mike Sher. “We have a long history of partnering with proud family-owned companies to honour their past while driving additional operational, environmental and financial success for the next generation.”
In addition, Atlas has announced the appointment of former Tyson Foods chief executive Donnie Smith as Foster Farms’ new chairman and CEO. Smith retired from Tyson Foods in 2016, having spent 36 years with the business.
“I love the poultry industry, and I am proud that Atlas has asked me to become the CEO of Foster Farms,” said Smith. “In this new era, we will maintain and further that legacy, rooted in animal welfare, superior product quality, customer service and community engagement.”
The terms of the deal were not disclosed.
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