Following an initial acquisition announcement in November, The Maschoffs, LLC, Tuesday announced its agreement to purchase GNP Company has been finalized, effective Dec. 16, 2013.
GNP Company produces poultry under the Gold'n Plump, Just BARE and Sunny Roost brand labels. The Maschoffs are the largest family-owned pork production company in North America.
GNP Company and The Maschhoffs pork production businesses will operate as separate business units following the closing of the transaction, a statement said. The transaction will have no immediate impact on GNP Company's chicken business or The Maschhoffs' pork production business.
According to the company's November announcement, GNP Company's headquarters will remain in St. Cloud, Minn., and its nearly 1,700 team members and 350 family farm partners will be retained. GNP Company will continue to be led by its present management team.
GNP Company sales are expected to be about $400 million in 2013.
The Maschhoffs, owned by fifth generation family members Dave Maschhoff and his wife Karen, and Ken Maschhoff and his wife Julie, is based in Carlyle, Ill. The Maschhoffs partners with more than 450 family farmers across the Midwest to produce enough pork to feed more than 16 million consumers annually.