Sign In | Create an Account | Welcome, . My Account | Logout | Subscribe | Submit News | Contact Us | Home RSS
 
 
 

Michael Foods to expand in Gaylord

January 3, 2011
By Fritz Busch Staff Writer

GAYLORD - Michael Foods, Inc., a leading egg and potato products processor with net sales of more than $1.5 billion, recently purchased bought a building and two lots in the Gaylord Industrial Park.

According to a Purchase and Sale Agreement, the $1.45 million deal included four land parcels on 13.2 acres.

City officials said the company plans to add a production line and more jobs in Gaylord.

The firm that relies on eggs for two-thirds of its sales, is among the leading U.S. producers of shell eggs and value-added egg products.

Michael Foods Crystal Farms subsidiary packages and distributes cheese, butter and other dairy products.

Its customers are food processors, foodservice distributors and grocery stores in the U.S., Canada, and Mexico.

The company's Egg Products Division distributes products to the Far East, Europe and South America.

The Dairy Products Division processes and distributes soft serve mix, ice cream mix, plus extended shelf life, ultra-pasteurized milk and specialty dairy products to domestic fast food businesses, other foodservice markets, independent retailers, ice cream manufacturers and others.

The Refrigerated Distribution Division distributes refrigerated grocery products directly to supermarkets including cheese, shell eggs, bagels, butter, margarine, muffins, potato products, juice and ethnic foods.

The company has manufacturing facilities and distribution in North America, Europe, Asia, South America and the Middle East.

In 2009, the firm with 3,762 employees, reported 48.2 percent income growth and 14.5 percent one-year growth.

Michael Foods was purchased by GS Capital Partners, an equity firm owned by Goldman Sachs Merchant Banking Division for about $1.7 billion in June 2010.

In November, 2010, Minnetonka-based Michael Foods was named Egg Product Company of the Year by the International Egg Commission (IEC) at the International Egg Industry Conference in Prague, Czechoslovakia.

The award is presented to IEC members who best meet judging criteria for quality, innovation, technology, marketing, product assortment and sustainability.

(Fritz Busch can be e-mailed at fbusch@nujournal.com).

 
 

 

I am looking for:
in:
News, Blogs & Events Web