Foster Farms, a West Coast-based chicken company, has agreed to a takeover by private-equity firm Atlas Holdings and will install former Tyson Foods chief Donnie Smith as its leader.
The deal takes place as chicken prices have surged, driven by strong consumer demand and rising grain prices. Another major chicken deal, the planned $4.5 billion takeover of Sanderson Farms by Cargill Inc. and agricultural investment firm Continental Grain Co., remains under review as regulators evaluate its impact on competition in the sector.
