US meat supplier OSI Group has announced its acquisition of Park 100 Foods, a privately held company that specializes in custom kettle-cooked food manufacturing.
This strategic acquisition is set to enhance OSI’s customer base while expanding its range of offerings, particularly in the realm of sauce processing. Importantly, it will also enable OSI to enter new product categories including soups and macaroni and cheese, aligning with current food and beverage industry trends.
The financial details of the acquisition, executed through one of OSI’s subsidiaries, remain undisclosed. Established in 1976, Indiana-based Park 100 Foods transitioned from a manufacturer of portioned breaded meats to a producer of kettle-formulated frozen soups, sauces, chili, side dishes, gravies, and macaroni and cheese.
Park 100 Foods has a robust workforce of over 600 employees operating across its facilities located in Tipton, Morristown, and Kokomo, Indiana, as well as in Fort Worth, Texas. Park 100 CEO and founder Jim Washburn stated, “When we began looking at an organization 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,” he added.
In terms of leadership, Park 100 co-president Rick Mager will assume the role of managing director and join the OSI North America leadership team, reporting to OSI’s senior executive vice-president, Kevin Scott. Additionally, Washburn, founder Gary Meade, and co-president David Alves will serve as consultants to facilitate the transition and integration process.
OSI Group CEO and president Dave McDonald emphasized the synergy between the two companies, stating, “This is an incredible partnership of similar cultures and business approaches that will help us broaden our overall OSI processing capabilities.” He further acknowledged, “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.”
This acquisition reflects OSI’s ongoing strategy to enhance its operational reach and product diversity. Earlier, OSI expanded its portfolio with the acquisition of Netherlands-based International Quality Ingredients in 2023 and the purchase of Wayne Farms poultry production complex in Mississippi in 2021. Furthermore, OSI’s previous businesses also included the acquisition of assets from Rose Packing Company in Illinois in 2019, as well as a partnership with Turi Foods in Australia, now known as Turosi, in 2018.
For those interested in staying updated on the latest food and drink consumer trends and insights within the food and drink business, signing up for daily news round-ups can provide a competitive edge. By leveraging the shared expertise of both OSI and Park 100, there is significant potential for innovative product developments that meet the dynamic needs of today’s consumers.