Cargill to buy Five Star Custom Foods
02 June 2016
US agribusiness giant Cargill Inc yesterday struck a deal to buy Five Star Custom Foods, Ltd, a company specialising in cooked protein products, soups and sauces for restaurants and food processors.
The transaction includes Five Star Custom Foods' two facilities in Fort Worth and Nashville, Tennessee, for an undisclosed sum.
Founded in 1999, Fort Worth, Texas-based Five Star Custom Foods produces cooked meat crumbles, oven-cooked diced meats, and kettle-cooked products for customers in the US.
It offers IQF meat crumbles, such as pizza toppings, Italian sausage, meatballs, chicken, hamburger crumbles, and chorizo; and oven-cooked diced meats, which include diced beef, diced Canadian bacon, diced ham, beef for stews/soups, and carnitas.
The company also provides kettle-cooked products, such as chili, taco meat, soups, quesos, and enchilada sauces.
Minnesota-based, privately held multinational company said that adding Five Star Custom Foods to the Cargill family will enhance its existing cooked protein capabilities, optimise supply chain efficiencies and provide innovation opportunities.
''We're thrilled with the opportunity to add Five Star Custom Foods to the Cargill family because it has a record of proven success producing high-quality, value-added, customized products that delight its customers,'' said Brian Sikes, corporate vice president of Cargill's protein businesses.
''Adding Five Star Custom Foods to Cargill's protein business will provide us with new capabilities we currently do not have, while allowing us to be more nimble in our ability to meet the ever-changing needs of our customers and consumers in today's fast-paced marketplace,'' he added.