Michael Foods subsidiary M.G. Waldbaum to acquire Primera Foods in move aimed at increasing company's growth in egg products business; transaction terms not disclosed
June 20, 2013
– Acquisition positions company for growth in egg products business
M.G. Waldbaum Company, a subsidiary of Michael Foods, Inc., today announced that it has entered into an agreement to acquire the assets of Primera Foods Corporation. Included in the transaction will be Primera's manufacturing assets located in Britt, Iowa, and Altura, Minnesota, where Primera produces value-added egg products.
"The purchase of the Primera business is an important decision for our company," said Jim Dwyer, Chairman and CEO of Michael Foods. "The two businesses are complementary, and the acquisition will allow the Michael Foods family of companies to extend its capacity and manufacturing capabilities."
"By increasing our production capacity for egg products, we will be better positioned to address the needs of our customers going forward," said Dwyer. He said the addition of the Primera business will broaden Michael Foods' reach across North America, Europe and Asia.
Dwyer said the initial focus of the acquisition will be ensuring a seamless transition for Primera customers.
Michael Foods is headquartered in Minnetonka, Minnesota. The company employs approximately 3,500 people and serves customers across North America, Europe and Asia with Crystal Farms®, Papetti's®, Simply Potatoes®, and Abbotsford Farms® branded products.