The chicken processor now runs five production facilities around the United States.

The company plans to close its Meadowside plant as it transitions operations to Salm.

Marfrig said it does not plan on changing the current shareholding composition or administrative structure.

The two companies disclosed early details from the unsolicited proposal.

Heartwood Partners completed a majority investment in the family owned meatpacking and distribution company.

The company said the proposal did not account for Marel’s intrinsic value. 

Campbell is acquiring the company for $2.7 billion.

Forno d’Oro will keep 30% of its operations.

The Massachusetts-based company purchased its majority interest from Lorentz Meats.