US meat supplier OSI Group has acquired Park 100 Foods, a privately owned company focusing on custom kettle-cooked food manufacturing.
OSI said the deal would expand its customer base and broaden its product offerings, particularly in sauce-processing. It will also see the company enter soup and macaroni and cheese.
The financial terms of the deal, struck through an OSI subsidiary, were not disclosed.
Established in 1976, the Indiana-based Park 100 Foods grew from a portioned breaded meats manufacturer to a producer of kettle-formulated frozen soups, sauces, chilli, side dishes, gravies, and macaroni and cheese.
The company has over 600 team members across its plants in Tipton, Morristown, and Kokomo in Indiana, as well as one in Fort Worth, Texas.
Park 100 CEO and founder Jim Washburn said: “When we began looking at an organisation that could carry on the Park 100 legacy, OSI clearly stood out as a customer-focused company with an impeccable reputation.
“OSI not only has an impressive customer reach but also takes pride in its family atmosphere, which was a vital element when considering what was next for Park 100 teams.”
Park 100 co-president Rick Mager will take on the role of managing director and join the OSI North America leadership team, reporting to OSI senior executive vice-president Kevin Scott.
Washburn, founder Gary Meade, and co-president David Alves will remain as consultants to support the transition and integration process.
OSI Group CEO and president Dave McDonald said: “This is an incredible partnership of similar cultures and business approaches that will help us broaden our overall OSI processing capabilities.
“The food business is all about relationships and Park 100 has done an excellent job providing unparalleled customer service. We are thrilled to have the Park 100 team join us as we explore new, unique solutions to meet the evolving needs of customers and consumers.”
OSI's recent corporate moves include the acquisition of Netherlands-based International Quality Ingredients in 2023 and the purchase of Wayne Farms poultry production complex in Mississippi in 2021.
Furthermore, in 2019, OSI also concluded the acquisition of assets from Rose Packing Company in Illinois and executed a partnership with Turi Foods in Australia, now Turosi, in 2018.
