Monday, July 4, 2022

Poultry products provider, Foster Farms, acquired by Atlas Holdings

Atlas Holdings has acquired Foster Farms, a family-owned provider of fresh, frozen, and prepared poultry products headquartered in Livingston, California from entities associated with the Foster Family.

With products available nationwide, Foster Farms employs approximately 10,000 skilled team members and operates major processing facilities in CaliforniaWashingtonLouisianaOregon, and Alabama. The company, which generates revenues of approximately $3 billion annually, will continue to operate under the Foster Farms name. Terms of the transaction were not disclosed.

Atlas also announced that longtime poultry industry leader Donnie Smith, former Chief Executive Officer of Tyson Foods, has been named Foster Farms’ new Chief Executive Officer and chairman of the Board. Smith spent 36 years with Tyson in roles spanning all business functions.

He was named CEO in 2009, a role he held until his retirement in 2016. Under his leadership, Tyson saw record growth, entered new markets and expanded its product offerings, staying true to Tyson’s heritage while charting its path forward as one of the world’s largest food companies.

“I love the poultry industry and am proud that Atlas has asked me to become the CEO of Foster Farms,” said Donnie Smith. “I’ve long been an admirer of the Foster Family and the business they’ve built over the past eight decades. In this new era, we will maintain and further that legacy, rooted in animal welfare, superior product quality, customer service and community engagement.”

“We are thrilled to welcome Foster Farms to the Atlas Family of great global businesses,” said Atlas partners Sam Astor, Ed Fletcher, and Mike Sher. “We have a long history of partnering with proud family-owned companies to honor their past while driving additional operational, environmental, and financial success for the next generation. Working closely with Donnie Smith, the Leadership Team, and our dedicated team members, that is precisely what we intend to do at Foster Farms.”

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