Harris Farms Inc. Owner John Harris and Central Valley Meat Company Inc. President and CEO Brian Coelho announced that Central Valley Meat Holding Company will acquire Harris Ranch Beef Holding Company, including its wholly owned subsidiaries, Harris Feeding Company and Harris Ranch Beef Company. Financial terms of the transaction were not disclosed.
“We have known and respected John Harris and Harris Ranch Beef for decades, and I am pleased to have this once-in-a-lifetime opportunity to continue the business’ family-owned legacy and pursue its tremendous potential for growth here in the Central Valley,” said Coelho. “While Central Valley Meat Company and Harris Ranch Beef will continue to operate independently, I expect both businesses and their respective customers to benefit from the companies’ shared knowledge, extensive resources and expanded product offering.”
Under the agreement, Harris Ranch Beef and Central Valley Meat Company will operate independently, with both companies retaining their respective brands.
“The Central Valley has long served as the home of some of the finest beef sold around the world. Today’s announcement cements a future for two family-owned beef operations to continue to thrive,” said Harris. “Brian has a proven track record of growing businesses, and under his leadership Harris Ranch Beef can continue its long and storied legacy.”
“Brian and the Central Valley Meat Company team share our view that employees are our company’s most valuable asset and that customers should be treated as partners, if not as family,” said Dave Wood, Chairman of the Harris Ranch Beef operations and a 50-year veteran of the business. “We are pleased to work with Brian and we look forward to each company’s continued success.”
None of Harris Farms’ other entities are impacted by the transaction. Harris Farms’ Hospitality Division, including the Harris Ranch Inn and Restaurant, Farms Division, Horse Division, and River Ranch will remain fully owned by Harris Farms. Wood will remain with Harris Farms as its President.
Lucas Horsfall served as financial advisor to Brian Coelho and Central Valley Meat Holding Company. Stubbs, Alderton & Markiles, LLP served as legal counsel to Central Valley Meat Holding Company. Wells Fargo Securities served as financial advisor to Harris Ranch Beef Holding Company. Carriage House Capital Advisors, LLC served as financial advisor to Harris Farms, Inc. Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to Harris Ranch Beef Holding Company. Bolen Fransen Sawyers LLP served as legal counsel to Harris Farms Inc.
Source: Central Valley Meat Co.