Sun Capital buys Creekstone

Cattle Market & Farm Reports, Editorials
Mar 7, 2005
by WLJ
Sun Capital Partners, a private investment firms with positions in dozens of U.S. companies, including retailers like Mervyns and Sam Goody, has acquired a majority interest in Creekstone Farms. John Stewart, the company's chairman and holder of a large minority stake, will continue to operate Creekstone.
According to Stewart, Sun will also invest additional money in the company to expand its physical plant to give it added scale.
"That will allow us access to additional major retail accounts," Stewart said, "and that will put us in a position to become the natural beef leader nationwide.”
"We are very enthusiastic about our relationship and investment in Creekstone, a company with a top-notch plant, brand and management team," said Steven Liff, managing director, Sun Capital.
“Through our investment, the company will be able to take advantage of new opportunities to grow much faster and accomplish its goal to become the market leader in branded beef.”
Creekstone specializes in Black Angus Beef and Natural Black Angus Beef programs, with all animals raised without antibiotics or hormones, fed a vegetarian diet, and source-verified back to the farm of origin.
No terms for the acquisition were announced.
Additional Creekstone sources indicated to WLJ last week that the company’s inability to test cattle for BSE and ship beef to Japan and other overseas market hurt their ability to compete with larger processors and that getting another investor in the fold helps them maintain their business viability. — WLJ