Peterson Farms Negotiates Sale of Brolier Opperations
by June 16, 2008 12:00 am 108 views
Peterson Farms Inc. of Decatur announced June 3 it had begun negotiations with Simmons Foods Inc. of Siloam Springs for the sale of its integrated broiler operations.
Negotiations are under way and are projected to be finalized in July, the company said.
Blake Evans, CEO of Peterson Farms, cited rising feed and energy costs as the reason for the sale.
Financial details of the negotiations were not disclosed.
Evans said the sale will include the company’s broiler operations, and propane gas company LP Gas Co.
Evans said the sale will allow Peterson to focus on its L&L Farm operation and breeder operations. Evans said he expects growth in both sectors in the coming years.
Peterson Farms and Simmons Foods are both privately owned. In May, Arkansas Business estimated that Peterson Farms had 2007 revenue of $128 million and was the 51st largest private company in the state. Simmons Foods reported 2007 revenue of $652 million and landed as the 12th largest private company in the state.