Sun Capital to sell pork assets
April 10, 2012
by Meat&Poultry Staff
BOCA RATON, Fla. – Sun Capital Partners, Inc. announced an agreement to sell Fearmans Pork, a large processor in Burlington, Ontario, to Sofina Foods, Inc. Terms of the deal were not disclosed.
An affiliate of Sun Capital acquired Fearmans Pork from Maple Leaf Foods in a corporate carve-out transaction, according to Sun Capital. In 2011, sales at Fearmans Pork increased by 16 percent after the company expanded production, implemented new hog procurement programs to improve quality and delivery, and introduced products for niche markets.
“Fearmans Pork has made great strides as a standalone business,” said Marc Leder, co-chief executive officer at Sun Capital Partners. “Management has effectively created an infrastructure and stabilized hog procurement, which assures the region’s hog farmers that they have a committed and capable partner. Sofina Foods is a natural steward for the next stage of its growth.”
Sun Capital is an investment firm specializing in leveraged buyouts and other investments. It’s affiliated portfolio companies includes Creekstone Farms, a processor of high-quality Black Angus beef and seller of branded fresh beef and value-added products.