The Maschhoffs, LLC, the largest family-owned pork production company in North America, and GNP Company, the Midwest's leading provider of premium quality chicken, announced today they have signed a definitive agreement whereby The Maschhoffs will acquire GNP Company and its subsidiaries.
GNP Company and The Maschhoffs' pork production business will operate as separate business units following the closing of the transaction. The transaction will have no immediate impact on GNP Company's chicken business or The Maschhoffs' pork production business.
GNP Company's headquarters will remain in St. Cloud,, Minnesota, and its nearly 1,700 team members and 350 family farm partners will be retained. Based in Carlyle, Illinois, The Maschhoffs is owned by fifth generation family members Dave Maschhoff and his wife Karen, and Ken Maschhoff and his wife Julie. The Maschhoffs partners with more than 450 family farmers across the Midwest to produce enough pork to feed more than 16 mill. consumers annually.
The transaction provides the capital and long-term resources that GNP Company needs to grow to meet increasing sales demand for its products and brands. GNP Company sales are expected to be about $400 mill. in 2013.
Source: The Maschhoffs, LLC