AdvancePierre Foods takes the prep out of preparing a meal. The company is a top US supplier of packaged sandwiches, fully-cooked chicken and beef items, veggie patties, breaded meats, and bakery products. It caters to several sectors, such as schools, vending, wholesale clubs, and grocery and convenience stores. As part of its business, it operates meat processing plants, sandwich assembly facilities, and bakeries across five mostly Midwestern states. AdvancePierre Foods was formed by the 2010 merger of Pierre Foods, Advance Food Company, and Advance Brands. The company is owned by Oaktree Capital Management along with shareholders and managers of its predecessor companies.
From its base in Cincinnati, AdvancePierre operates nearly a dozen facilities nationwide. The company runs plants in Oklahoma, Ohio, and Iowa to process meats and manages sandwich assembly facilities in the Carolinas and Ohio. AdvancePierre prepares its own baked goods, as well, from bakeries in North Carolina and Oklahoma.
The combined company generates about $1.3 billion in annual sales. AdvancePierre's management team includes members from all three companies. By joining forces, the trio has expanded its menu of products and distribution networks. To maximize savings, AdvancePierre enlisted the help of Procurian, a procurement services provider, to help make the combined operations run more efficiently. Procurian is working to get logistics, packaging, and MRO (maintenance, repair, and overhaul of equipment) spending under control. AdvancePierre hopes to use cost savings from Procurian's review to expand its product assortment.
Mergers and Acquisitions
Acquisitions are key to AdvancePierre's growth strategy. In 2011 the company purchased Maine-based Barber Foods, which processes and packages chicken nuggets, stuffed chicken entrees, and other value-added chicken products. As part of the deal, Barber continues to process and market poultry from its factory in Maine under its namesake brand.
Sales and Marketing
AdvancePierre gets its food items in the hands of consumers through several channels. It sells its products through schools, vending operators, convenience stores, foodservice providers, military commissaries and other outlets, retailers, and club stores. Its retail brands, which sell under the names Fast Fixin' and Fast Classics, are sold through the likes of Wal-Mart, Smart & Final, Kroger, Albertsons, ACME, and Cub Foods.