New Oxford, Pa.-based turkey processor Plainville Farms has received a lifeline after uncertainty over its future, according to local news reports and an announcement from the state of Pennsylvania.
The state has secured what it called “a significant investment” from The Wenger Group (TWG) to acquire Plainville, keep it in operation and also upgrade it in the future. The state itself contributed a $5 million Pennsylvania Industrial Development Authority loan and a $1 million Pennsylvania First grant, according to news reports.
Plainville Farms CEO Matt Goodson said in news reports that the funds would be used to strengthen the processing facility and also biosecurity efforts around its 93 family-owned turkey farms. The funding also allows the company to support its 690 existing workers through improved infrastructure, equipment purchases and workforce training. Plainville noted it expects to add “a couple hundred more” jobs in the coming years, according to reports.
TWG completed the acquisition through a majority-owned subsidiary named Farm Fresh Turkey Products (FFTP), from private-equity firm Regent. TWG is a family-owned agricultural products and services organization; it includes food companies Dutchland Farms LLC and Leidy’s Premium Meats, as well as various feed, milling, grain and fertilizer companies.