Swift Prepared Foods, a consumer packaged goods company and subsidiary of JBS USA, announced it has reached an agreement to acquire California-based Sunnyvalley Smoked Meats, Inc., for $90 million (€77.6 million).
Founded in 1990, Sunnyvalley Smoked Meats produces a variety of quality smoked bacon, ham and turkey products for sale to retail and wholesale customers under the Sunnyvalley brand.
The purchase includes one production facility in Manteca, Calif., and the company employs more than 300 team members. Sunnyvalley’s gross revenues are $150 million annually.
Tom Lopez, president and chief operating officer, Swift Prepared Foods, said, "The announcement is consistent with our company’s long-term strategy to increase our value-added and branded portfolio, and provide even more diverse product offerings to customers and consumers.
"Sunnyvalley Smoked Meats makes delicious food products, has an impressive history and a reputation for exceptional quality and service. We look forward to welcoming the dedicated Sunnyvalley team members to Swift Prepared Foods and continuing to grow the brand."
Bill Andreetta, president and founder of Sunnyvalley Smoked Meats, will continue to lead the business as part of the Swift Prepared Foods team.
“I am extremely proud of everything Sunnyvalley has accomplished and excited about joining one of the world’s leading food companies,” said Bill Andreetta, president, Sunnyvalley Smoked Meats.
“We will continue to operate as usual with a focus on quality and service for our customers, as we work to grow our business. With the support of Swift Prepared Foods, the future looks very bright.”
Swift Prepared Foods
Swift Prepared Foods currently operates seven production facilities in Booneville, Miss., Elkhart, Ind., Council Bluffs, Iowa, Ottumwa, Iowa, and Swanton, Vt.
Its newest ready-to-eat bacon facility opened in May 2021 in Moberly, Missouri.
Construction is also currently underway on a greenfield Italian meats production facility in Columbia, Missouri.
The company was acquired by JBS USA in 2017 and has experienced significant growth since acquisition.
The transaction is subject to customary closing conditions, Swift Prepared Foods added.