Seaboard sells 50% stake in Daily's
Sept. 29, 2014
by Keith Nunes
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|Daily’s manufactures a variety of processed pork products, ranging from flavored bacons to hams and sausages..
SHAWNEE MISSION, Kan. — Seaboard Corp. has sold a 50 percent stake in Daily’s Premium Meats, its processed meats division, to Triumph Foods for $72.5 million. In conjunction with the transaction, Kelly Hattan was named president of Daily’s.
Daily’s manufactures a variety of processed pork products, ranging from flavored bacons to hams and sausages. The company has processing plants in Salt Lake City, Utah and Missoula, Mont.
“This partnership will enable Daily’s to further solidify a supply of high-quality raw materials while providing additional capital to expand production and the geographical footprint where Daily’s sells its products,” Hattan said. “I’m excited about the significant opportunities for growth as a result of this enhanced partnership.”
Seaboard and Triumph have been longtime partners on a variety of fronts. Seaboard, for example, sells fresh products produced by Triumph’s St. Joseph, Mo., plant. The products are sold under the Seaboard Farms, St. Joe Pork and PrairieFresh Pork brands.