Seaboard purchasing portion of Christensen FarmsSeaboard purchasing portion of Christensen Farms
Transaction will allow Seaboard to supply future Seaboard Triumph Foods plant.
February 2, 2016
Seaboard Foods confirmed this week that it has agreed to purchase certain assets of Christensen Farms — including a portion of its hog inventory, a feed mill and truck washes, certain hog farms in Colorado and related assets — for a cash purchase price equal to approximately $71.1 million.
Seaboard also entered into a swine production agreement with Woodford Creek Farms after Woodford recently purchased hog farms in Iowa from Christensen for a cash purchase price equal to approximately $75.8 million.
Christensen is a shareholder of Triumph Foods LLC. Last May, Seaboard and Triumph formed a joint venture, Seaboard Triumph Foods LLC, to construct a new pork processing plant in Sioux City, Iowa. Seaboard made market hog supply commitments to the Sioux City plant as part of the joint venture.
A Seaboard spokesperson told Feedstuffs that the agreements will allow Seaboard to supply its commitment of market hogs to the Seaboard Triumph Foods processing plant and other Midwest pork processing plants.
“This strategic move aligns with the vision and long-term strategy of our connected food system to raise pigs to produce safe, affordable premium pork products served on tables around the world,” the spokesman added.
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