West Coast-based chicken company Foster Farms has agreed to be acquired by private-equity firm Atlas Holdings and will set up the former Tyson Foods chief Donnie Smith as its leader.
The deal has happened because of the rise in chicken prices due to strong consumer demand and rising grain prices. Another major chicken deal, a planned acquisition of $4.5 billion sanderson farm Cargill Inc. and agricultural investment firm Continental Grain remains under review by the company as regulators evaluate its impact on competition in the sector.