Cargill last week announced an agreement to acquire Five Star Custom Foods for an undisclosed sum.
The company, based in Fort Worth, Texas, specializes in cooked protein products and custom prepared soups and sauces for the food service and food processing industries.
Cargill officials said the deal would bolster its existing cooked protein capabilities while enhancing supply chain efficiency and innovation. The company is undergoing a reorganization to take advantage of consumer trends while exiting lower-margin sectors.
“We are acquiring an excellent company with talented people who do an outstanding job delivering a five star experience to their customers, helping them to succeed and grow,” Brian Sikes, corporate vice president of Cargill’s protein businesses, said in a statement.
The transaction includes Five Star's facilities in Fort Worth and Nashville. The 17-year-old company currently employs 385 people.
"As we look toward the future, we are excited by Cargill’s commitment to excellence and long-term profitable growth," said Five Star president Jeff Bledsoe. "We truly believe this to be a ‘winning’ scenario for everyone involved.”
