Two Good Companies Come Together

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Friday, 30 July 2010 17:52

Cincinnati, Ohio, August 2010 — Two good food service related companies, known for being major suppliers of value-added protein food products to the foodservice, school, retail, club, vending and convenience store channels, have announced a merger. Senior management from Pierre Foods, Inc., Advance Food Company, Inc. and Advance Brands, LLC, a division of Advance, have announced that the boards of directors of all three groups have unanimously approved and entered into a definitive merger agreement. The combined company will be called Advance Pierre Foods and creates a leading supplier of value-added protein and handheld convenience food products. The transaction is expected to close within the next two months and is subject to customary closing conditions. Bill Toler, current CEO of Pierre Foods, will become the CEO of the newly combined company and Greg Allen, current CEO of Advance Food Company will join the Board of Directors of the combined company. Advance Pierre Foods will offer a full line of packaged sandwiches, fully cooked chicken and beef products, Philly-style steak, breaded beef, pork, and poultry and bakery products. Headquartered in Cincinnati, with some divisional leadership based in Oklahoma, Advance Pierre Foods will operate protein processing facilities in Oklahoma, Ohio and Iowa as well as sandwich assembly facilities in North Carolina, Ohio and South Carolina. The company will also operate bakeries in North Carolina and Oklahoma. Pierre Foods is a nationally recognized industry leader in providing fully cooked protein and sandwich products to a wide variety of customers including schools, restaurants, retail supermarkets, vending machines, the military, and convenience stores. Advance Food Company is a leading national manufacturer of value-added, center-of-the-plate protein products for the foodservice industry. Founded in 1973 by Paul Allen and David McLaughlin in Enid, Oklahoma, Advance manufactures pre-portioned, ready-to-cook and fully cooked beef, pork, veal, chicken and turkey products, including Steak-EZE® brand of Philly-style steaks. Advance products reach customers in restaurants, business and industry foodservice venues, schools and universities, military bases, healthcare facilities, hotels, and stadiums and arenas across the United States and abroad. SOURCE: Pierre Foods; Advance Food Company < Prev   Next >