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US based dairy firm Prairie Farms Dairy has announced the acquisition of domestic peer SmithFoods.
According to sources, the deal is part of Prairie Farms Dairy’s strategy to diversify its product portfolio and expand its market reach.
Ohio-based SmithFoods was founded in 1909 and produces dairy based products such as milk, sour cream, cottage cheese, ice cream and custard mixes.
Matt McClelland, CEO and EVP of Prairie Farms Dairy, said: “We are excited to welcome [SmithFoods] employees to the Prairie Farms Family of companies, and we look forward to serving SmithFoods loyal customers with the same exceptional local dairy products and community support they have come to expect. The SmithFoods acquisition was an easy decision because the Orville facilities complement our network of dairy plants and expand our Ohio footprint”.
The acquisition took effect immediately with no disruption to SmithFoods’ operations. Financial terms of the deal were not disclosed.
Source: FoodBev / Dairy News Today
