The transaction in which J.D. Heiskell Holdings LLC and AMERRA Capital Management LLC each acquired minority interests in Norbest LLC has been completed. The remaining equity of Norbest LLC will continue to be owned by the 37 turkey growers who previously owned Moroni Feed Company.
Utah-based Norbest, a leading grower, processor and marketer of turkeys, announced in late August that it was restructuring into a limited liability company and adding the two equity partners.
Levy Capital Partners, a new merchant banking firm specializing in mergers and acquisitions, and financing for leading growth companies, advised Norbest in connection with the transaction. Specific terms of the transaction were not disclosed.
Matthew Cook, CEO of Norbest, said: "We are excited to partner with both Heiskell and AMERRA given their deep knowledge of the agricultural markets and food supply chain. As Norbest pursues a new phase of growth and expansion to meet our customers' demand for top quality, healthy turkey products, we are excited to have partners who are committed to Norbest's future success."
Michael Levy, managing partner of Levy Capital Partners, added: "The transaction provides Norbest with capital to support the company's expansion initiatives, and we believe the partnership with Heiskell and AMERRA will augment the company's opportunities for growth and value-creation in the future."