December 18, 2013

The Maschhoffs completes GNP Company's acquisition

The Maschhoffs, LLC, announced that its agreement to purchase GNP Company has been finalised, effective December 16, 2013, following an initial acquisition announcement in November.

GNP Company produces poultry under the Gold'n Plump, Just BARE and Sunny Roost brand labels. The Maschhoffs are the largest family-owned pork production company in North America.

Following the closing of the transaction, GNP Company and The Maschhoffs pork production businesses will operate as separate business units, a statement said. The transaction will have no immediate impact on GNP Company's chicken business or The Maschhoffs' pork production business.

According to the company's November announcement, GNP Company's headquarters will remain in St. Cloud, Minnesota, and its nearly 1,700 team members and 350 family farm partners will be retained. GNP Company will continue to be led by its present management team.

GNP Company's 2013 sales are expected to be about US$400 million.

The Maschhoffs is based in Carlyle, Illinois. The Maschhoffs partners with more than 450 family farmers across the Midwest to produce enough pork to feed more than 16 million consumers annually.