Harris Farms Inc. owner John Harris and Central Valley Meat Co. Inc. president and chief executive officer Brian Coelho announced today that Central Valley Meat Holding Co. will acquire Harris Ranch Beef Holding Co., including its wholly owned subsidiaries: Harris Feeding Co. and Harris Ranch Beef Co. Financial terms of the transaction were not disclosed.
In addition to making it the seventh-largest beef packer and processing company in the U.S. upon completion, the acquisition is expected to have a significant impact on the California cattle industry, including:
- Both companies now have the ability to expand processing capacity, which should benefit the overall California cattle market.
- Both operations’ close proximity to major West Coast ports allows them to capitalize on rapidly expanding export markets.
- Both companies have made and will continue to make significant investments in processing operations and feeding facilities to ensure seamless operations and best-in-class livestock welfare, feeding capacity and transportation logistics -- and this is on top of substantial investments to make them leaders in animal welfare and sustainability.
“We have known and respected John Harris and Harris Ranch Beef for decades, and I am pleased to have this once-in-a-lifetime opportunity to continue the business’s family-owned legacy and pursue its tremendous potential for growth here in the Central Valley,” Coelho said . “While Central Valley Meat Co. and Harris Ranch Beef will continue to operate independently, I expect both businesses and their respective customers to benefit from the companies’ shared knowledge, extensive resources and expanded product offering.”
Under the agreement, Harris Ranch Beef and Central Valley Meat will operate independently, with both companies retaining their respective brands.
“The Central Valley has long served as the home of some of the finest beef sold around the world. Today’s announcement cements a future for two family-owned beef operations to continue to thrive,” Harris said. “Brian has a proven track record of growing businesses, and under his leadership, Harris Ranch Beef can continue its long and storied legacy.”
Dave Wood, chairman of the Harris Ranch Beef operations and a 50-year veteran of the business, added, “Brian and the Central Valley Meat Co. team share our view that employees are our company’s most valuable asset and that customers should be treated as partners, if not as family. We are pleased to work with Brian and we look forward to each company’s continued success.”
None of Harris Farms’ other entities are affected by the transaction. The company's Hospitality Division, including the Harris Ranch Inn & Restaurant, the Farms Division, the Horse Division and River Ranch will remain fully owned by Harris Farms. Wood will remain president of Harris Farms.