Carolina Turkeys Acquires Butterball® Turkey

Mt. Olive, NC - Carolina Turkeys, an international turkey processing company headquartered in Mt. Olive, NC, recently announced that it has finalized the purchase of Butterball® Turkey from ConAgra Foods, Inc. for $325M. According to Carolina Turkeys the acquisition of Butterball, the most widely recognized brand in the turkey industry. The expanded company expects production to reach 1.4B pounds in 2006, or 20% of total turkey production in the US. Effective today, Carolina Turkeys' company name has changed to Butterball, LLC.

According to sources the addition of the Butterball brand to Carolina Turkeys' product line is a natural evolution for the firm. For most of its 20-year history, Carolina Turkeys has been primarily a commodity business, selling whole birds and turkey products to grocery retailers and food service operators throughout the nation and in 15 countries around the world. In 2005, the company began its shift to a branded, value-added business with the introduction of Just Perfect™, a premium line of fresh and frozen meat products.

SOURCE: Carolina Turkeys