Indiana Packers Corp. to acquire Specialty Foods Group
Indiana Packers Corporation (IPC), makers of INDIANA KITCHEN premium pork products, announced it has entered into a definitive agreement and plan to acquire Specialty Foods Group LLC (SFG) headquartered in Owensboro, Ky. SFG is most recognized as the manufacturer and distributor of KENTUCKY LEGEND premium boneless hams, the leading boneless ham brand in grocery retail across the United States. The acquisition agreement is subject to regulatory approval, approval of the equity holders of SFG, and certain other closing conditions. The sale is expected to close in the third quarter of 2018.
The acquisition will strengthen IPC’s foundation for growth and positions it to leverage valuable synergies relating to raw material utilization, manufacturing and sales and marketing capabilities. IPC is headquartered in Delphi, Ind., and also operates pork processing facilities in Holland, Mich., and Frankfort, Ind. IPC is committed to being a good corporate citizen where it operates, and intends to continue SFG’s legacy of giving back to the community of Owensboro, Kentucky.
“We’re looking for ways to grow our business and adding SFG is strategically on-point,” said Russ Yearwood, President and Chief Operating Officer of Indiana Packers Corporation. “They’re a company with successful brands, outstanding people and smart business strategies. This acquisition will improve our position in a very competitive global protein market.”
Source: Indiana Packers Corp.