Reorganization, acquisition will establish Passel Farms for future growth and innovation.
(Omaha, NE – May 20, 2024) – Standard Nutrition Company (SNC) is pleased to announce the newly-formed Passel Farms, a reorganization of SNC’s investments, resources, and partnerships dedicated to pork production.
This timely and essential evolution also includes collaborating with new investment partners – including an investment vehicle affiliated with Ospraie Management, LLC (Ospraie) – to support the acquisition of Cactus Family Farms. The formation of Passel Farms creates efficiencies that will streamline operations, reduce costs, and position the organization to remain competitive for future growth and innovation.
Passel Farms will be a large farrow-to-finish production system, with locations in Georgia, Indiana, Iowa, Minnesota, Nebraska, and South Carolina. The combined team of professionals includes expertise in pork production, feed manufacturing, animal science and welfare, environmental and employee safety, information technology, finance, risk management, and accounting – a multidisciplinary approach that will position Passel Farms for new opportunities no matter the production and market cycles.
“Our company has managed well through a challenging period in the pork industry,” said Pat Joyce, CEO of Passel Farms. “Our success is due to our wonderful team members, who have passionately served our farms, mills, and business, as well as our investments and partners in the business. By reorganizing the investments and resources of SNC as Passel Farms and with the acquisition of Cactus Family Farms, we will be able to continue building upon this success through better alignment and integration.”
SNC launched Pork Holdings in 2004, providing investment in pork production partnerships and assets supporting its sow management services to partners and clients. Over the past 20 years, Pork Holdings saw success as several partnerships evolved into farrow-to-finish operations, resulting in expanded management services and investments. Passel Farms was selected as the organization’s new name because “passel” means “group” and represents well the group of passionate people who serve farms and farmers through pork production investments.
Cactus Family Farms, the former pork production arm of Cactus Feeders Inc., began operations in 2014 and has grown significantly in the past decade. Cactus Family Farms is a promising addition to and complements Passel Farms’ production system design, personnel, assets, and geographies.
“We are excited to bring Cactus Family Farms into the fold of the storied success of Standard Nutrition Company and its evolution to Passel Farms,” said Brad Hastings, co-CEO of Cactus Feeders. “Our history as a strong, diverse agriculture business will complement Passel Farms’ strategies and desire to build a more integrated business built for the future.”