Meat&Poultry - March 2014 - 12

business notes

Quantum Foods files for bankruptcy
Quantum Foods filed for Chapter 11 bankruptcy protec-

release that CTI Foods and its seven manufacturing facili-

tion and announced the company is in final negotiations

ties would provide a strong infrastructure for Quantum

for a sale of its assets to CTI Foods Holding Co. LLC.

Foods. Wilder, Idaho-based CTI Foods is a privately held

Bolingbrook, Ill.-based Quantum Foods received $60

foodservice supplier specializing in raw and pre-cooked

million in debtor-in-possession financing from its current

proteins, soups, sauces and dehydrated beans. The com-

lending group to fund ongoing operations. The company

pany has operations in Idaho, California, Kentucky and

expects to continue buying goods and services from sup-

Texas and employs more than 1,000 workers.

pliers, while claims made before the Chapter 11 filing will
be addressed as part of the bankruptcy process.
CTI Foods has emerged as a leading candidate to acquire Quantum Foods' assets. The company said in a news

Quantum Foods is a custom manufacturer and processor of value-added protein products, such as portion
controlled, ready-to-cook and value-added, fully cooked
beef, poultry and pork.

O.K. Foods appoints new CEO
O.K. Foods CEO Paul Fox resigned his post this past

international operations and vice president of processed

month, according to news reports. The company's web-

meats operations. Goins began his career at O.K. Foods

site confirms that Trent Goins, formerly senior vice presi-

as a management trainee in January 2003 before becom-

dent of sales and marketing, is the company's new CEO.

ing a regional sales manager in January 2005 for four

Randy Goins, the former CEO of O.K. Industries, is

years. Before joining O.K. Foods, Goins was a legislative

Trent Goins' father.

assistant for agriculture and trade policy in the office of

Fox joined Fort Smith, Ark.-based O.K. Foods in Janu-

former US Rep. Marion Berry (D-Gillett).

ary 2012 after serving as managing director of Sáo Pau-

Celaya, Mexico-based Industrias Bachoco, a major

lo, Brazil-based Marfrig Group, and president and CEO

poultry producer, acquired O.K. Foods in 2011. The ac-

of Dickinson Frozen Foods for about four years prior

quisition, which was estimated at $93.4 million, resulted

to that. He joined Dickinson after working 17-years at

in the combined company becoming the third-largest

Tyson Foods, which included stints as vice president of

chicken producer in North America.

JBS SA acquires Frinal
JBS SA, Sáo Paulo, Brazil, is set to expand its poultry operations with the purchase of Frinal, a poultry processor

processor, has claimed the top spot in poultry production

based in Garibaldi, Rio Grande do Sul state, according to

through acquisitions. In September, JBS acquired Seara

news reports. Details of the transaction were not disclosed.

Brasil, a poultry processor once owned by Marfrig Ali-

Frinal employs more than 1,200 workers and processes

mentos in September 2013. The Seara Brasil transaction

120,000 birds per day. The company has been a player in

allowed JBS to surpass Springdale, Ark.-based Tyson

the Brazilian poultry industry for 40 years.

Sáo Paulo-based JBS, already the world's largest meat

Foods Inc. as the top poultry producer globally. ■

* Meat&Poultry * March 2014 * www.MeatPoultry.com

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