Purchase by Mitsubishi reportedly worth more than $100 million.

Krissa Welshans 1, Feedstuffs Editor

August 24, 2018

1 Min Read
Indiana Packers acquiring Specialty Foods Group

Mitsubishi subsidiary Indiana Packers Corp. (IPC) announced Aug. 23 that it has entered into a definitive agreement and plan to acquire Specialty Foods Group LLC (SFG).

Headquartered in Owensboro, Ky., SFG is most recognized as the manufacturer and distributor of KENTUCKY LEGEND premium boneless hams, the leading boneless ham brand in grocery retail across the U.S. The acquisition agreement, which is reportedly worth more than $100 million, is subject to regulatory approval, approval of the equity holders of SFG and certain other closing conditions. The sale is expected to close in the third quarter of 2018.

The acquisition will strengthen IPC’s foundation for growth and positions it to leverage valuable synergies relating to raw material utilization, manufacturing and sales and marketing capabilities. IPC is headquartered in Delphi, Ind., and also operates pork processing facilities in Holland, Mich., and Frankfort, Ind.

“We’re looking for ways to grow our business, and adding SFG is strategically on point,” IPC president and chief operating officer Russ Yearwood said. “They’re a company with successful brands, outstanding people and smart business strategies. This acquisition will improve our position in a very competitive global protein market.”

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