Recently formed poultry integrator Pure Prairie Poultry has secured $37.6 million in funding to renovate and expand its poultry plant in Charles City, Iowa.
The company in 2021 purchased the plant, which was previously owned by Simply Essentials, and prior to that, Cedar River Poultry.
According to a press release, Pure Prairie Poultry produces poultry products raised in cooperation with family farmers in Iowa, Minnesota and Wisconsin. Chickens are fed a vegetarian diet, are not treated with antibiotics, and the products are air-chilled and contain no added ingredients.
In addition to the financing enabling the company to expand the plant, it will also help Pure Prairie Farms purchase new equipment and ramp up operations to full capacity. Once it is at full capacity, the plant will have created more than 520 jobs, according to a press release.
Pure Prairie Poultry, when in full operation, will have a network of more than 75 barns located within a 250-mile radius of the plant, allowing the company to provide locally sourced birds for distribution in the region.
The company’s leadership team includes experienced poultry industry veterans who were formerly employed by companies including GNP Company, Prairie’s Best Farms, Foster Farms, Sparboe Farms and Tyson Foods, among others.
The funding comes in the form of a loan packaged, guaranteed by the United States Department of Agriculture (USDA) through the Food Supply Chain Guaranteed Loan Program. Greater Commercial Lending (GCL), facilitated the loan.
"USDA-guaranteed loans are a vital tool in building stronger rural communities and enhancing critical supply chains," said Jeremy Gilpin, executive vice president of GCL. "GCL remains dedicated to facilitating access to affordable financing for organizations in rural areas. These loans help bolster local economies and create jobs, while also improving access to essential goods and services for consumers across the country."
