Triumph and Seaboard go 50/50 on pork processor
Triumph Foods has acquired a 50% ownership in Daily's Premium Meats, the processed meats division of Seaboard Foods, which produces and markets raw and precooked bacon, ham and sausage.
The 50/50 ownership split of Daily's Premium Meats started as of September 27, 2014. As a result of the transaction, Seaboard received cash proceeds of $72.5 million (€57.18) and will recognise an estimated pre‑tax gain of approximately $55.0 million (€43.38), subject to final working capital adjustments.
In conjunction with the transaction, Kelly J. Hattan was appointed president of Daily's Premium Meats.
Daily's Premium Meats offers a variety of processed pork items from signature honey cured bacon to applewood smoked bacon to naturally smoked hams to breakfast sausages. Operating since 1893, Daily's has further processing plants located in Salt Lake City, Utah, and Missoula, Mont.
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