California-based Foster Farms has been acquired by Atlas Holdings. The poultry producer is the second-largest employer in Alabama’s Marengo County, where it has more than 400 workers.
Foster Farms has operated as a family-owned business from its base in Livingston, California, since 1939. It has some 10,000 employees in five states — Washington Louisiana and Oregon, in addition to California and Alabama — and generates about $3 billion in annual revenue.
Foster chicken and turkey products are made without preservatives, additives or injected sodium enhancers, the company says.
Atlas, based in Greenwich, Connecticut, was founded in 2002 and owns and operates 25 companies in a wide range of industries including metals, automotive, construction, food, power generation, printing and wood products. Its companies see $14.5 billion in annual revenues.
Former Tyson Foods CEO Donnie Smith has been named CEO of Foster Farms. “Under his leadership, Tyson saw record growth, entered new markets and expanded its product offerings, staying true to Tyson’s heritage while charting its path forward as one of the world’s largest food companies,” Atlas said in announcing the leadership choice.
“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.”
“We are thrilled to welcome Foster Farms to the Atlas Family of great global businesses,” said Atlas Partners Sam Astor, Ed Fletcher, and Mike Sher. “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. Working closely with Donnie Smith, the Leadership Team, and our dedicated team members, that is precisely what we intend to do at Foster Farms.”
Terms of the deal were not disclosed.