Mergers and Acquisitions
Foster Farms acquired by Atlas Holdings, Donnie Smith named CEO
Atlas Holdings has acquired Foster Farms, a family-owned provider of fresh, frozen, and prepared poultry products headquartered in Livingston, California. Terms of the transaction were not disclosed.
Founded in 1939 on a small farm, Foster Farms is a leading brand fresh chicken in the West. With products available nationwide, the company employs approximately 10,000 employees and operates major processing facilities in California, Washington, Louisiana, Oregon, and Alabama. The company, which generates revenues of approximately $3 billion annually, will continue to operate under the Foster Farms name.
Atlas also announced that former Tyson CEO Donnie Smith has been named Foster Farms' new CEO and Chairman of the Board. Smith spent 36 years with Tyson and was named CEO in 2009, a role he held until his retirement in 2016. Under his leadership, Tyson saw record growth, entered new markets and expanded its product offerings.
"I love the poultry industry and am proud that Atlas has asked me to become the CEO of Foster Farms," said Donnie Smith. "I've long been an admirer of the Foster Family and the business they've built over the past eight decades. In this new era, we will maintain and further that legacy, rooted in animal welfare, superior product quality, customer service and community engagement."
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