The Maschhoffs LLC, the largest family-owned pork production company in North America, and GNP Co., a leading Midwest producer of chicken under the Gold'n Plump, Just BARE and Sunny Roost brands, announced Nov. 22 that they have signed a definitive agreement whereby The Maschhoffs will acquire GNP and its subsidiaries.
GNP and The Maschhoffs' pork production business will operate as separate business units following the closing of the transaction, the announcement said. The transaction will have no immediate impact on GNP's chicken business or The Maschhoffs' pork production business.
GNP's headquarters will remain in St. Cloud, Minn., and its nearly 1,700 team members and 350 family farm partners will be retained. Based in Carlyle, Ill., The Maschhoffs is owned by fifth-generation family members Dave Maschhoff and his wife Karen, and Ken Maschhoff and his wife Julie. The Maschhoffs partners with more than 450 family farmers across the Midwest to produce enough pork to feed more than 16 million consumers annually, the company said.
"No changes in business operations or company commitments are planned as a result of this acquisition," said Mike Helgeson, GNP Co. chief executive officer.
Meanwhile, The Maschhoffs' pork production business unit will continue to dedicate its energies to maintaining and enhancing its position in the North American pork industry.
"Our intent is to manage GNP Company as a separate business unit next to our current pork production business," said Jason Logsdon, The Maschhoffs CEO. "GNP Company will continue to be led by its present management team, with the support of its current team members and contract growers."