JBS USA Enters Agreement to Acquire Certain Assets From TriOak Foods

GREELEY, Colo., Dec. 02, 2022 (GLOBE NEWSWIRE) -- JBS USA, a leading global food company, announced it has reached an agreement to acquire certain assets from TriOak Foods, a Midwest-based pork producer, for an undisclosed amount. The two companies enjoy a long-standing business relationship, with JBS USA serving as the exclusive customer of TriOak market hogs since 2017.

A family operation established in 1951, TriOak Foods includes live pork production, grain merchandising and fertilizer marketing. Agricultural real estate assets in Iowa are not included in the transaction. A leader in on-farm sustainability, TriOak Foods hog farms include multiple open pen gestation facilities and farms compliant with California's Proposition 12 rule.

"Today's announcement is aligned with our company's strategy to consistently provide the highest quality pork to our customers and consumers," said Matthew Turner, DVM, JBS USA Head of Live Pork. "As a longtime, exclusive hog supplier to JBS USA, TriOak Foods has a proven track record of maintaining the highest standards for animal health, well-being and product quality. We look forward to continuing our strong partnership with the TriOak team."

JBS USA is currently the exclusive customer of TriOak Foods. This evolution in the long-standing partnership will allow JBS USA to ensure consistent supply and increased efficiencies, resulting in affordable, quality products for American consumers and new opportunities for both TriOak and JBS team members.

"I am very proud of all that TriOak has accomplished and am excited to strengthen our relationship with a trusted partner," said Randy Pflum, TriOak Foods President and CEO. "In alignment with our core beliefs, JBS USA invests in its team members and the communities where they operate. I believe the future will be very promising for both of our organizations as a result of this partnership."

JBS USA currently operates five pork production facilities in Beardstown, Ill.; Louisville, Ky.; Marshalltown, Iowa; Ottumwa, Iowa; and Worthington, Minn., a value-added meat processing facility in Pipestone, Minn., sow production facilities in Arkansas and Texas, and contract sow production facilities in Arkansas, Oklahoma and Missouri.

"With a focus on meeting customer and consumer expectations, this announcement means that JBS USA will continue expanding our premium pork product mix, including open pen gestation and Proposition 12-compliant hogs," said Marty Dooley, JBS USA Pork President. "We are grateful for the opportunity to ensure consistent supply to our Ottumwa, Iowa, and Beardstown, Illinois, pork production facilities, which will strengthen our ability to reliably provide high-quality protein to American families."

The transaction is subject to customary closing conditions.

ABOUT JBS USA
JBS USA is a leading global food company providing diversified, high-quality food products for sale to customers in approximately 100 countries on six continents. This includes meat, poultry and seafood products, a portfolio of recognized brands and innovative premium foods. Visit jbsfoodsgroup.com.

Media Contact:
Nikki Richardson
Corporate Communications
nikki.richardson@jbssa.com