Simmons Foods Broiler Ops Buyout Complete
by July 28, 2008 12:00 am 297 views
Simmons Foods Inc. of Siloam Springs announced July 21 that it completed a buyout of broiler operations from Decatur-based Peterson Farms Inc.
Terms of the deal were not disclosed, but according to a company release, Simmons acquired additional assets that included “feed milling, hatchery operations, first processing, transportation vehicles, flocks and a network of contract growers.”
Peterson Farms had announced the two companies were in negotiations on June 3, citing rising costs.
Peterson’s broiler operations produces about 5 million pounds of chicken every week. Products are sold to retail and foodservice industries.
The Evans family of Decatur owns Peterson Farms.
Three members of the family were directors for Bentonville-chartered ANB Financial NA, which failed on May 9.
Victor Evans, former CEO of Peterson Farms, owned 14.47 percent of the bank, and Debra Evans, daughter of Peterson Farms founder Lloyd E. Peterson, owned 14.09 percent of ANB.
Blake Evans, grandson of Lloyd Peterson, owned about 1.06 percent.
In June, Blake Evans told the Northwest Arkansas Business Journal that the sale had nothing to do with the failure of ANB Financial.