An Illinois company has purchased the St. Cloud company behind Gold'n Plump chicken.
The Minneapolis St. Paul Business Journal reports that terms of the deal have not been disclosed, but that GNP will keep its headquarters in St. Cloud and its 1,700 employees and 350 partner family farms.
GNP has about 1,100 Minnesota employees in St. Cloud, Cold Spring and Luverne. The company also has about half of its partner farms in the state.
The St. Cloud Times reports the Maschhoffs LLC, who purchased GNP, is the largest family-owned pork production company in North America. They partner with more than 450 family farmers across the Midwest and produce enough pork to feed more than 16 million consumers annually.
The announcement was made in concert with GNP Company that officials signed the agreement on Thursday. The Maschhoffs, based in Carlyle, Illinois, will acquire the three chicken processing facilities, two hatcheries and two feed mills.
GNP Company will continue to be led by its present management team, including Mike Helgeson, a third-generation leader who has been CEO since 1993.
Both companies issued statements about the sale and the dedication to GNP's employees, according to a report in the Pioneer Press.
In a statement, Helgeson said, "No changes in business operations or company commitments are planned as a result of this acquisition. GNP Company will continue to build on its reputation as the Midwest's leading provider of premium quality chicken brands and products."
Maaschoffs' CEO, Jason Logsdon had a similar statement. "Our intent is to manage GNP Co. as a separate business unit next to our current pork production business. GNP Co. will continue to be led by its present management team members and contract growers."
The deal is expected to close in 30 days.