Atlas Holdings, a Greenwich-headquartered private equity and investment firm, acquired Foster Farms, a family-owned provider of fresh, frozen, and prepared poultry products headquartered in Livingston, California. The financial terms of the transaction were not disclosed.
Foster Farms launched in 1939 and has a 10,000-person workforce spread across processing facilities in California, Washington, Louisiana, Oregon and Alabama. The company, which generates revenues of approximately $3 billion annually, will continue to operate under the Foster Farms name.
Atlas also announced that Donnie Smith, former CEO of Tyson Foods, has been named Foster Farms’ new chief executive and chairman of the board.
“I love the poultry industry and am proud that Atlas has asked me to become the CEO of Foster Farms,” said Smith. “I’ve long been an admirer of the Foster Family and the business they’ve built over the past eight decades. In this new era, we will maintain and further that legacy, rooted in animal welfare, superior product quality, customer service and community engagement.”
