Excel Completes Acquisition Of Taylor Companies
For Immediate Release: February 25, 2002
Contact: Mark Klein 952-742-6211
WICHITA, KAN., FEB. 22, 2002 - Excel Corporation said today that it has completed its acquisition of Taylor Packing Co. Inc., Taylor By-Products, Inc. and related companies.
Excel will keep the Taylor name for the beef processing business in Wyalusing, Penn. Terms were not disclosed.
Mike Coleman, who had been executive vice president, chief operating officer and chief financial officer of the Taylor Companies, will be vice president and general manager of the Wyalusing business.
"Our mission at Wyalusing will continue to be the same as in the past," Coleman said. "We will provide safe, wholesome, quality products to our customers while offering stable, attractive employment opportunities to the people in our local area. In accomplishing this mission, we will preserve and protect our environmental resources, and contribute in a meaningful way to our community."
Kenneth H. Taylor Jr. and Thomas J. Taylor, third generation managers of the family business and leaders in the beef industry, will retire from the business.
"As I said when this was announced, our decision was a difficult one," Ken Taylor said. "Our values and beliefs closely mirror those of Excel's, and this combination will offer a bright future for the business."
Excel announced plans to acquire Taylor Nov. 14, 2001. Bill Buckner, president of Excel, said the company found the Taylor business attractive because of its solid reputation and excellent staff. He noted that the Wyalusing plant would help supply raw material for Excel's case-ready meats plant in Hazleton, Penn., which opened in January. Bringing Taylor into the Excel portfolio also fit well with the August purchase of Emmpak Foods, a Milwaukee, Wis.-based producer of value-added meats.
"This combination of Excel and Taylor is about two great companies who are leaders in the industry getting together to grow for the benefit of our employees, communities and customers," Buckner said.
Based in Wichita, Excel is a leader in providing innovative meat solutions to customers and consumers. The company has about 20,000 employees worldwide and 21 production facilities in the United States, Canada and Australia. Among its leading brands are Sterling Silver, AngusPride, Northridge Farms and Tender Choice. Excel's website is www.excelmeats.com . Excel is a subsidiary of Minneapolis-based Cargill, Incorporated.
The Taylor Companies have 1,100 employees at their beef processing facility in Wyalusing. They are a leading producer of premium wholesale beef products, including coarse ground and case-ready ground beef blends.