The company signed a definitive agreement by which The Maschoffs will acquire GNP and all its subsidiaries. The pork and poultry businesses will operate as separate business units upon closing of the transaction. Both companies said the deal will have no immediate effects on either business. No additional details of the deal were released.
GNP Company’s headquarters will remain in St. Cloud, Minn., and its nearly 1,700 employees and 350 family farm partners will be retained, the company said. The Maschhoffs, based in Carlyle, Ill., is owned by fifth-generation family members who have partnerships with more than 450 family farmers across the Midwest.
Details of the acquisition, including interviews with the executives of both companies, are featured as the cover story in the January issue of Meat&Poultry. The issue will be published in print and online at www.meatpoultry.com next month.