October 27, 2021

Foster Farms considers sale

US poultry producer Foster Farms is exploring a sale, according to people with knowledge of the matter.

The Livingston, California-based company is working with an adviser as it solicits takeover interest from bidders including private equity firms, sources said.

"Foster Farms has and will continue to evaluate strategic partnerships with customers, suppliers and other partners, "Helen Kurtz, the company's chief marketing officer, said in an emailed statement. "We are confident in our strategic plan, and will determine if partnerships further enhance our competitive position."

Kurtz added that Foster Farms will keep its employees, customers and stakeholders informed of any significant developments.

Demand for poultry products has spurred consolidation.

In August, Cargill Inc. and Continental Grain Co. agreed to buy US chicken producer Sanderson Farms Inc. for US$4.53 billion in cash, while JBS proposed acquiring the stake in Pilgrim's Pride Corp. that it didn’t already own.

- Bloomberg