LIVINGSTON, Calif. — A private equity firm is now the new owner of Foster Farms, and a former Tyson Foods CEO is picking up the reigns as Chief Executive Officer.
The new owner is Atlas Holdings, which announced Tuesday that the acquisition of the company was wrapped up.
Foster Farms is known as a major provider of fresh and frozen poultry products that are staple in many grocery stores. The company is headquartered in Livingston and also has a turkey division in Turlock, where it is considered to be a major employer for the area. The business was founded back in 1939.
"We are thrilled to welcome Foster Farms to the Atlas Family of great global businesses," said Atlas Partners Sam Astor, Ed Fletcher, and Mike Sher. "We have a long history of partnering with proud family-owned companies to honor their past while driving additional operational, environmental, and financial success for the next generation. Working closely with Donnie Smith, the Leadership Team, and our dedicated team members, that is precisely what we intend to do at Foster Farms."
While there are new owners for the company, it will still be operating under the Foster Farms name. The terms of the transaction weren't disclosed.
Donnie Smith, a former CEO of Tyson Foods, was named the company's new CEO. Smith has 36 years of experience under Tyson and held the role of Tyson CEO from 2009 to 2016, when he retired.
"I love the poultry industry and am proud that Atlas has asked me to become the CEO of Foster Farms," said Donnie 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."
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