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