FOSTER FARMS ANNOUNCES NEW OWNER, CEO
Connecticut based holding company Atlas Holdings announced Tuesday that it has acquired Foster Farms, the 83-year-old poultry giant based in Livingston. Foster Farms’ has multiple facilities in the Central Valley, including Fresno, Kerman, Turlock, Caruthers and Porterville. The company, which generates revenues of approximately $3 billion annually, will still operate under the Foster Farms name. Terms of the transaction were not disclosed.
Foster Farms has major processing facilities in California, Washington, Louisiana, Oregon and Alabama and has more than 10,000 employees. Along with news of the acquisition, Atlas also announced that Donnie Smith, former CEO of Tyson Foods from 2009 to 2016, is Foster Farms’ new CEO and chairman. “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.”