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Thursday, September 09, 2010
David Eaheart, APR david_eaheart@seaboardfoods.com 913-261-2621
Seaboard Foods looks forward to welcoming Butterball into its family of brands
Seaboard Foods looks forward to welcoming Butterball into its family of brands after its parent company, Seaboard Corporation closes its agreement to purchase a 50 percent interest in Butterball, LLC, in partnership with the Maxwell Farms group.
SHAWNEE MISSION, KAN., Sept. 9, 2010 — Seaboard Foods looks forward to welcoming Butterball into its family of brands after its parent company, Seaboard Corporation closes its agreement to purchase a 50 percent interest in Butterball, LLC, in partnership with the Maxwell Farms group. This closing is expected to occur on or before Dec. 10, 2010. “Butterball is an iconic brand name in the United States, representing superior quality, outstanding value and excellent customer service,” says Steve Bresky, Seaboard Corporation president and chief executive officer. “We look forward to our participation with the Butterball management team and the Maxwell group and bringing additional value to Butterball.” “We are pleased to be partnering with Seaboard and moving forward as the buyer of Butterball, the strongest brand in the turkey industry,” said Walter Pelletier, president of Maxwell Farms, LLC. “Seaboard is a strong, diversified company with a great reputation in the agriculture and food industries, and we are confident the partnership will be mutually beneficial for both companies.” Butterball is the largest vertically integrated turkey producer in the United States and accounts for 20 percent of total turkey production in the country and is recognized as an industry leader in providing safe, nutritious, high-quality turkey products. The Butterball management team will continue to operate as its own entity under the new partnership. Similar to Butterball, Seaboard Foods is an integrated food company. As the second largest U.S. pork producer and a leading pork processor, the company is recognized in the industry for unsurpassed quality control and food safety. The Seaboard Foods brands include PrairieFresh Premium Pork and Daily’s Premium Meats. Rod Brenneman, Seaboard Foods president and chief executive officer, says, “We are excited about Seaboard Corporation’s new partnership which will make Butterball a part of the Seaboard Foods family of brands. We will be working together with our new partners in not only bringing additional value to Butterball, but also in working to bring additional value to Seaboard Foods, our customers and our brands.” About Seaboard Foods Seaboard Foods, with headquarters in Shawnee Mission, Kan., is a leading integrated food company and a top exporter of pork to Japan and Mexico. Pork products sold internationally bear the Seaboard Farms® brand. In the United States, Seaboard Foods markets fresh products under the PrairieFresh® Premium Pork brand and processed meats under the Daily’s® Premium Meats brand. As part of the company’s sustainability commitment, Seaboard Foods formed High Plains Bioenergy, a subsidiary committed to creating sustainable energy solutions from the Seaboard Foods integrated system. Seaboard Foods has been recognized for its aggressive research and development, and proactive environmental standards. For more information, visit www.SeaboardFoods.com. About Seaboard Corporation: Seaboard Corporation has a history dating back more than 90 years. Although the company has evolved over time through acquisitions, partnerships and internal growth, its roots are in grain and agriculturally derived products. Seaboard Corporation directly or indirectly employs more than 14,000 people worldwide and ranks number 552 on the 2010 Fortune 1000 list, with net sales of approximately $3.6 billion annually. Seaboard is traded on the NYSE Amex Equities under the symbol SEB. For more information on Seaboard Corporation, visit www.seaboardcorp.com. About Maxwell Farms, LLC: Maxwell Farms, LLC is an affiliated company of Goldsboro Milling Company. Headquartered in Goldsboro, North Carolina, Maxwell Farms, LLC owns the Maxwell family’s interest in Butterball, LLC. Goldsboro Milling began in 1916 as a feed mill that sold bag feed across eastern North Carolina. It soon turned its attention to bulk feed and in 1958 began to grow turkeys. In the mid 1980’s, Goldsboro Milling joined with Carroll’s Foods to form Carolina Turkeys, which is now Butterball. In the late 1980’s, Goldsboro Milling added swine, and today is the tenth largest swine producer in the U.S. Goldsboro Milling also invests in land and timber. About Butterball, LLC: Butterball, LLC is the largest producer of turkey products in the United States. Headquartered in Garner, North Carolina, Butterball produces more than 1 billion pounds of turkey each year, and the company supplies its products to more than 30 countries. The industry leader has seven plants located throughout the United States. For more information about Butterball, visit www.butterball.com. You can also call 1800BUTTERBALL for answers to your most puzzling questions about turkey preparation. ###