Reevemark handles Sanderson Farms as the No. 3 chicken producer gets acquired by Continental Grain and Cargill in a deal valued at $4.5B.
The $203 per share acquisition offer represents a 30.3 percent premium to the price at which Sanderson was trading prior to a run-up triggered by media speculation about a deal.
Sanderson Farms, which is based in Laurel, MS, will be combined with Wayne Farms, a subsidiary of Continental.
Joe Sanderson expects the new owners of his company will be strong stewards of the Sanderson Farms’ team, brand and assets.
The merged company will have plants in North Carolina, Georgia, Alabama, Arkansas, Mississippi, Louisiana and Texas.
Wayne Farms markets its birds under the Wayne Farms, Platinum Harvest, Chef’s Craft, LadyBird and Naked Truth brands.
The deal is expected to close by early 2022.
Reevemark’s Paul Caminiti, Delia Cannan, Nicolas Leasure, Luc Herbowy, Jessica Engle and Jill Steinman represent Sanderson Farms.