“Butterball is an iconic brand name in the United States, representing superior quality, outstanding value and excellent customer service,” said Steve Bresky, Seaboard’s president and chief executive officer. “We look forward to our participation with the Butterball management team and Maxwell and bringing additional value to Butterball.”
“We are pleased to be partnering with Seaboard and moving forward as the buyer of Butterball, the strongest brand in the turkey industry,” said Walter Pelletier, president of Maxwell Farms, LLC. “Seaboard is a strong, diversified company with a great reputation in the agriculture and food industries, and we are confident the partnership will be mutually beneficial for both companies.”
Bank of America Merrill Lynch acted as financial adviser to Seaboard in connection with the transaction.