Foster Farms and Case Farms last week finalized an agreement to transfer ownership of Foster Farms’ Farmerville, Louisiana Complex. The transaction includes the Fresh Chicken, Prepared Foods, and Protein Conversion facilities located in Farmerville, Louisiana, as well as the feed mill in Arcadia, Louisiana, and the hatchery in Athens, Louisiana. Case Farms and Foster Farms are committed to a smooth transition for their team members, customers, and suppliers as part of this strategic move for both businesses.
“We are proud to welcome the well-respected Foster Farms team members and growers to the Case Farms family,” said Tom Shelton, Case Farms Founder and Chairman. Mike Popowycz, Vice Chairman and CEO of Case Farms, noted, “The acquisition fits Case Farms’ strategic growth plan and provides flexibility to provide our customers with the products they need to grow their business.”
“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,” said Jayson Penn, CEO of Foster Farms.
Penn added, “Looking ahead, this transaction is a significant step in growing our core branded retail and foodservice channels, which is central to our company strategy. We are now even better positioned to serve the millions of consumers who have made our brand a part of their lives for generations. Case Farms is a well-respected operator in our industry, and we wish the Farmerville team continued success.”
Willkie Farr & Gallagher LLP served as legal advisor and Goldman Sachs & Co. LLC and Rabo Securities USA, Inc. served as financial advisors to Foster Farms. Joseph D. Carney & Associates, LLC, Hamilton Stephens Steele + Martin, PLLC, Sher Garner Cahill Richter Klein & Hilbert, LLC and Fisher & Phillips, LLP served as legal advisors to Case Farms.
