Skip to main content

JBS USA Enters Agreement to Acquire Certain Assets From TriOak Foods

Written by Customer Service on . Posted in Mergers And Acquisitions.

Agreement Cements Longstanding Exclusive Partnership

GREELEY, Colo., Dec. 02, 2022 (GLOBE NEWSWIRE) — JBS USA, a leading global food company, announced it has reached an agreement to acquire certain assets from TriOak Foods, a Midwest-based pork producer, for an undisclosed amount. The two companies enjoy a long-standing business relationship, with JBS USA serving as the exclusive customer of TriOak market hogs since 2017.

A family operation established in 1951, TriOak Foods includes live pork production, grain merchandising and fertilizer marketing. Agricultural real estate assets in Iowa are not included in the transaction. A leader in on-farm sustainability, TriOak Foods hog farms include multiple open pen gestation facilities and farms compliant with California’s Proposition 12 rule.

“Today’s announcement is aligned with our company’s strategy to consistently provide the highest quality pork to our customers and consumers,” said Matthew Turner, DVM, JBS USA Head of Live Pork. “As a longtime, exclusive hog supplier to JBS USA, TriOak Foods has a proven track record of maintaining the highest standards for animal health, well-being and product quality. We look forward to continuing our strong partnership with the TriOak team.”

JBS USA is currently the exclusive customer of TriOak Foods. This evolution in the long-standing partnership will allow JBS USA to ensure consistent supply and increased efficiencies, resulting in affordable, quality products for American consumers and new opportunities for both TriOak and JBS team members.

“I am very proud of all that TriOak has accomplished and am excited to strengthen our relationship with a trusted partner,” said Randy Pflum, TriOak Foods President and CEO. “In alignment with our core beliefs, JBS USA invests in its team members and the communities where they operate. I believe the future will be very promising for both of our organizations as a result of this partnership.”

JBS USA currently operates five pork production facilities in Beardstown, Ill.; Louisville, Ky.; Marshalltown, Iowa; Ottumwa, Iowa; and Worthington, Minn., a value-added meat processing facility in Pipestone, Minn., sow production facilities in Arkansas and Texas, and contract sow production facilities in Arkansas, Oklahoma and Missouri.

“With a focus on meeting customer and consumer expectations, this announcement means that JBS USA will continue expanding our premium pork product mix, including open pen gestation and Proposition 12-compliant hogs,” said Marty Dooley, JBS USA Pork President. “We are grateful for the opportunity to ensure consistent supply to our Ottumwa, Iowa, and Beardstown, Illinois, pork production facilities, which will strengthen our ability to reliably provide high-quality protein to American families.”

The transaction is subject to customary closing conditions.

ABOUT JBS USA
JBS USA is a leading global food company providing diversified, high-quality food products for sale to customers in approximately 100 countries on six continents. This includes meat, poultry and seafood products, a portfolio of recognized brands and innovative premium foods. Visit jbsfoodsgroup.com.

Media Contact:
Nikki Richardson
Corporate Communications
nikki.richardson@jbssa.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.