Pierre Foods Inc has entered into an agreement to purchase substantially all of the assets of Zartic Inc and its affiliated distribution company, Zar Tran Inc.
Zartic, headquartered in Rome GA, produces, sells, delivers, and distributes food items including packaged beef, poultry, pork, and veal products. The aggregate preliminary purchase price is $94 million plus the assumption of certain liabilities, subject to post-closing adjustments. Pierre expects to finance the purchase through an amendment to its existing credit agreement.
Cincinnati OH-based Pierre manufactures and markets various food products under several brand names, focusing on pre-cooked protein products and hand-held convenience sandwiches.