McColl Partners, LLC ("McColl Partners") acted as financial advisor to Goldsboro Milling Company ("Goldsboro Milling") in its recapitalization of Butterball, LLC ("Butterball" or the "Company") in partnership with Seaboard Corporation ("Seaboard"). The transaction continues Goldsboro Milling's relationship and ownership in Butterball while partnering with Seaboard to grow the Company’s market-leading position in the turkey industry.
About Butterball, LLC
Butterball, LLC is the largest producer of turkey products in the United States. Headquartered in Garner, North Carolina, Butterball produces more than 1 billion pounds of turkey each year, and the Company supplies its products to more than 30 countries. As the industry leader, the Company has seven plants located throughout the United States. For more information about Butterball, visit www.butterball.com. Additionally, the Company's hotline (1-800-BUTTERBALL) provides answers to consumers' questions about turkey preparation.
About Goldsboro Milling Company
Headquartered in Goldsboro, North Carolina, Goldsboro Milling Company began in 1916 as a feed mill that sold bag feed across eastern North Carolina. It soon turned its attention to bulk feed and in 1958 began to grow turkeys. In the mid 1980's, Goldsboro Milling joined with Carroll's Foods to form Carolina Turkeys, which is now Butterball. In the late 1980's, Goldsboro Milling added swine, and today is the tenth largest swine producer in the United States. Goldsboro Milling also invests in land and timber.
About Seaboard Corporation
Seaboard Corporation has a history dating back more than 90 years. Although the company has evolved over time through acquisitions, partnerships and internal growth, its roots are in grain and agriculturally derived products. Seaboard directly or indirectly employs more than 14,000 people worldwide and ranks number 552 on the 2010 Fortune 1000 list, with net sales of approximately $3.6 billion annually. Seaboard is traded on the NYSE Amex Equities under the symbol SEB. For more information on Seaboard Corporation, visit www.seaboard.com.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with entrepreneurs, family-owned businesses, private equity groups, public companies, financial institutions, and divisions of large companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
For more information about this transaction or our Consumer Group, please contact Lorin DeMordaunt or Matt Preece at 704-333-0525. Additional information about McColl Partners can be found at www.mccollpartners.com.
