February 7, 2002

SALE OF WILLOW BROOK FOODS FINAL

SPRINGFIELD, MO—Willow Brook Management, along with an investment group comprised of McClain Enterprises, Powell & Powell Milling, and Springfield Underground, Inc., have completed their purchase of the Willow Brook Foods subsidiary from MCMI Foods, Inc. The sale, which includes the Willow Brook Foods processing operations in Springfield, MO, and the Schweigert Foods processing operation in Albert Lea, MN, was completed on February 7, 2002.

Mike Briggs, President of Willow Brook Foods, stated, “This is a great structure for future growth because each of the investors has a strategic interest in the company.”

MCMI Foods, along with Willow Brook Foods managers, originally acquired the Springfield and Albert Lea operations from Tyson Foods in 1999. MCMI Foods, Inc., headquartered in San Antonio, Texas, is a holding company that owns several food companies. Willow Brook Foods employs over 1,800 associates in southwest Missouri, northern Arkansas and eastern Oklahoma. Their operations are comprised of a feed mill, turkey growing farms, a hatchery, a breeder operation, turkey slaughter facility, and a further processed facility for turkey, pork, beef, and chicken. Schweigert Foods employs over 300 associates in Minnesota. Their operations produce further processed pork, beef, chicken, and turkey products.

Springfield Underground, Inc. owns and operates an underground storage facility in Springfield, MO. McClain Enterprises, Powell & Powell Milling both have turkey milling and growing operations in northwest Arkansas. In 2001, the combined live turkey pounds grown by McClain Enterprises, Powell & Powell Milling, and Willow Brook Foods represented 410,000,000 pounds or 5.9% of the United States turkey production.

Willow Brook Foods will continue to market products under the Willow Brook, Gourmet Recipe, Harvest Provisions and Schweigert brand names to retail, foodservice and industrial segments.

 

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