Daily Newsletter

21 August 2023

Daily Newsletter

21 August 2023

Perdue Farms to close US meat plant

Some 132 workers will be laid off permanently from the Michigan factory on 14 October.

Eszter Racz August 18 2023

US poultry group Perdue Farms has announced it will close a meat facility in Michigan in October.

Earlier this week, Perdue subsidiary Alexander & Hornung sent a letter to the Michigan Department of Labor and Economic Opportunity announcing the permanent closure of the factory.

Some 132 workers will be laid off permanently on 14 October from the plant that operates in St. Clair Shores.

“The entire facility will be closed and all employees at the facility will be impacted. This closure is expected to be permanent,” the letter read.

Perdue Farms acquired Alexander & Hornung in 2020. The brand’s portfolio is focused on ham, sausages, and other meat and deli products.

According to Forbes, Perdue Farms’ annual revenue was $8bn in 2022. The company, which employs around 21,000 people, has 36 facilities in the US. It also has sites in markets including Brazil and China.

Perdue Farms owns Perdue Foods, and Perdue AgriBusiness, both headquartered in the US state of Maryland. The company processes chicken, turkey, pork, and grains.

Earlier this year, Randy Day, the CEO of US poultry group Perdue Farms announced he would step down this summer.

Day, who worked for Perdue Farms for 43 years and has been CEO since 2017, was to be succeeded by COO Kevin McAdams.

Last week, Perdue Farms rival Tyson Foods announced plans to close four domestic chicken plants in a bid to reduce costs against a backdrop of slowing demand and plummeting profits.

Rising disposable income and health consciousness set to drive the healthy snacks market

The global healthy snacks market will be valued at $74.6 billion in 2023 and is expected to grow at a CAGR of 6% by 2030, per GlobalData. Increasing awareness of health and wellness among consumers is the major contributor to the growing demand while a rise in vegan and plant-based diets and rising disposable income, and middle-class expansion are also expected to drive market growth. However, this growth is affected by the challenges posed by high cost of ingredients.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close