Pork producer Maschhoff Family Foods LLC, one of St. Louis’ largest private companies, has agreed to sell its Minnesota-based chicken business to chicken producer Pilgrim’s Pride Corp. for $350 million in cash.
Maschhoff’s sale of St. Cloud, Minn.-based GNP Co., which supplies chicken products to retail, deli, food service and industrial customers under the Gold’n Plump and Just BARE brands, is expected to close in the first quarter of 2017, pending regulatory approval.
GNP has more than 1,700 employees and over 400 family farm partners in Minnesota and Wisconsin. Earlier this year, Maschhoff began a two-year, $80 million expansion of GNP’s poultry processing plant, with the first, $35 million phase slated for completion this fall.
Read more: St. Louis Business Journal