US: Cooperative to buy into pig slaughter plant
A group of hog farmers has signed a letter of intent
to buy a majority interest in a slaughter plant in North Dakota.
The group, the Cloverdale Growers' Alliance Cooperative, is made up of about
60 farmers in North Dakota, Montana and Minnesota and is intent on buying
into Cloverdale Foods Company's Minot plant with 50-employees.
The financial aspects of the deal have not been disclosed. The company will
remain a minority partner and will continue to manage the facility.
Cloverdale Foods produces deli meats and other products and has food
processing plants in Mandan and Stanton, North Dakota.
Company president and CEO, TJ Russell is quoted as stating that the
Cooperative supplies around 60,000 hogs per year to the Minot plant, amounting
to around half the capacity of the facility.
It is hoped that capacity
will be increased to 150,000 hogs annually with this deal.
â€¢ Cloverdale Foods
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