Atlas Holdings has acquired California-based poultry company Foster Farms from entities associated with the Foster family.
According to a press release, Atlas Holdings, a Connecticut-based company, owns and operates 25 companies and employs approximately 50,000 people across more than 300 facilities worldwide.
Foster Farms was founded on a small farm in 1939, and has since grown into the largest broiler and turkey producer in the western United States.
Under the new ownership, Foster Farms will continue to operate under the Foster Farms name, while continuing to offer products nationwide. Foster Farms, according to the WATTPoultry.com Top Companies Database, is the nation’s 12th largest broiler producer and 14th largest turkey producer. It operates facilities in California, Oregon, Washington, Alabama and Louisiana. It's headquarters are in Livingston, California.
Atlas partners Sam Astor, Ed Fletcher and Mike Sher offered the following joint statement in a press release announcing the acquisition: “We are thrilled to welcome Foster Farms to the Atlas Family of great global businesses. We have a long history of partnering with proud family-owned companies to honor their past while driving additional operational, environmental and financial success for the next generation.”
Terms of the transaction were not disclosed.
Donnie Smith named Foster Farms CEO
Smith, who spent 36 years with Tyson Foods in roles spanning all business functions, retired in 2016. During his tenure, Smith was credited with leading the company to record growth, helping the company enter new markets and expanding product offerings while staying true to the Tyson Foods heritage.
Donnie Smith (Screeenshot from heuermannlectures.unl.edu)
Since that time, Smith has actively done humanitarian work, establishing the African Sustainable Agriculture Project (ASAP), which aims to help the people of Rwanda become more self-sufficient and food secure.
Smith voiced his excitement about taking on a leadership role within Foster Farms.
“I love the poultry industry and am proud that Atlas has asked me to become the CEO of Foster Farms,” Smith said. “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.”