Opal Foods announced that Rose Acre Farms and Weaver Eggs have purchased AGR Partners’ entire interest in Opal Foods.
“There are currently no plans to split up the company. For the foreseeable future, Opal Foods will remain an independent company with its own management team. Representatives of Rose Acre Farms and Weaver Eggs will continue to serve on the board and provide governance and oversight for the business,” said Kelly Brown, independent director and chair of Opal Foods’ governing board.
The change in ownership is not expected to have any substantial impact on day-to-day company functions or employees. However, former Opal Foods president, Brock Peterson, had announced his retirement prior to the company being sold.
“AGR Partners' role, as an investor, is to be a supportive partner. AGR seeks out and builds relationships with owners, management teams and co-investors that can complement AGR’s expertise and add strategic and operational value. Opal Foods has benefited from the investment and the board is confident the business is now positioned to grow under its new ownership structure,” said Brown.
Ejnar Knudsen, CEO of AGR Partners said in an Opal Foods press release that, "Our goal is to invest in family businesses and create value for the owners. The Weaver and Rust families have been great partners over the past si years, and we are delighted to sell our membership interest to these two-family businesses."
Brown noted that "Opal has experienced tremendous growth over the past 6 years, and the One Opal family culture aligns perfectly with the family business philosophy of its owners."
According to the WATTPoultry.com Top Company database, Opal Foods was launched in May 2014. As of December 31, 2019, it had 7.79 million laying hens. The company has more than 250 employees, most of which are in the Neosho, Missouri, area. The company specializes in all-natural, cage-free, organic and all-natural eggs with omega-3s. Opal Foods also provides Land O’Lakes with brown eggs.
