Midera Food Processing acquires Phoenix Innovations

Midera Food Processing MMFP announced Friday the acquisition of Phoenix Innovations. Based in Russellville, Arkansas, the company is currently operating at an annual revenue run rate of approximately $25 million.

The company said that the acquisition strengthens its ability to deliver complete processing lines for poultry clients and advances its total line solutions strategy.

“This acquisition aligns with our vision to continue to lead the future of food production automation around the globe,” said Mark Salman, Chief Executive Officer of Midera. “The leadership team at Phoenix Innovations has earned trusted relationships throughout the poultry industry by consistently solving complex processing challenges. That reputation, combined with their product capabilities, makes them a compelling addition to our platform. We see a clear path to accelerate value creation through our total line solutions approach, leveraging the expertise and capabilities across our 30-plus brands and global service network.”

Source: press release