Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

SANDERSON FARMS, INC.

(SAFM)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sanderson Farms : Wayne Farms completes divestiture of Laurel poultry production complex to Amick Farms

10/22/2021 | 08:01am EST

OAKWOOD, Ga., Oct. 22, 2021 /PRNewswire/ -- Wayne Farms LLC, a subsidiary of Continental Grain Company, announced today that on October 17, 2021, it completed the sale of its Fresh Processing Complex in Laurel, Mississippi, to Amick Farms. The complex includes live production, hatchery, feed mill, manufacturing and production facilities. The divestiture is a key milestone towards completing the previously announced transaction which will combine Wayne Farms and Sanderson Farms, Inc. (NASDAQ: SAFM) under the joint ownership and control of Cargill and Continental Grain.

Clint Rivers, President and CEO of Wayne Farms LLC, said, "We've had a very long and positive relationship with the Laurel community, and we're glad we've been able to reach an agreement with a solid operator like Amick Farms who shares our values and will continue that community partnership. The decision to sell the Laurel facility was not easy for Wayne Farms, but this is an important step in completing the proposed transaction with Sanderson Farms. We are thankful for Amick Farms' commitment to the Laurel workers and the community, and we're confident the plant will continue to operate and thrive under their ownership."

As previously announced on August 9, Cargill, Continental Grain and Sanderson Farms reached a definitive agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms and combine it with Wayne Farms to form a new, privately held U.S. poultry business with a high-quality asset base, complementary operating cultures, and an industry-leading management team and workforce. On October 21, Sanderson Farms stockholders approved the transaction during a special meeting of stockholders, completing another key milestone in the closing process. The transaction is expected to close by the end of 2021 or early 2022, subject to regulatory approvals, and other customary closing conditions.

Based in Batesburg, SC, Amick Farms currently operates two other vertically integrated facilities in South Carolina and Maryland, employing approximately 3,000 employees. Financial terms of the sale were not disclosed.

William Blair served as financial advisor and Boles Holmes White, LLC served as legal advisor to Wayne Farms in this transaction. Nexsen Pruet served as legal advisor to Amick Farms.

Media Contact
Frank Singleton
678-316-4237
Fes01@att.net

About Wayne Farms LLC
Wayne Farms LLC is the seventh-largest vertically integrated poultry producer in the U.S. with annual sales exceeding $2 billion. A subsidiary of Continental Grain Company, Wayne Farms owns and operates 10 fresh and further-processed facilities throughout the Southeast, produces more than 2.6 billion pounds of poultry products each year, and employs more than 9,000 individuals. Producing products under the brand names of WAYNE FARMS® fresh and prepared chicken; PLATINUM HARVEST® premium fresh chicken; CHEF'S CRAFT® gourmet chicken; NAKED TRUTH® premium chicken; and LADYBIRD SELECT™ premium chicken, Wayne Farms has a well-known history of delivering exceptional poultry products to some of the largest industrial, institutional, and foodservice companies across America.

 

Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/wayne-farms-completes-divestiture-of-laurel-poultry-production-complex-to-amick-farms-301406419.html

SOURCE Wayne Farms, LLC


© PRNewswire 2021
All news about SANDERSON FARMS, INC.
11/16SANDERSON FARMS : Donates Chicken to Lafitte, LA Hurricane Ida Victims
PU
11/15SANDERSON FARMS : Thanksgiving Newsletter 2021
PU
11/02New orleans saints, sanderson farms, delgado community college, extend reach for hurric..
PU
11/01Sanderson Farms Donates Chicken to St. Rose, LA Hurricane Ida Victims
PU
10/27SANDERSON FARMS INC : Other Events (form 8-K)
AQ
10/25SANDERSON FARMS : ANNOUNCES RETIREMENT OF BOARD MEMBER FRED BANKS - Form 8-K
PU
10/25SANDERSON FARMS INC : Change in Directors or Principal Officers, Regulation FD Disclosure,..
AQ
10/25SANDERSON FARMS : Announces Retirement of Board Member Fred Banks
BU
10/25Sanderson Farms, Inc. Announces Board Changes
CI
10/22SANDERSON FARMS : Stockholders Approve Combination with Cargill and Continental Grain Comp..
PU
More news
Analyst Recommendations on SANDERSON FARMS, INC.
More recommendations