PHOENIX — Mantiqueira USA (MTQ USA), a joint venture between a Brazilian company and food organization, announced Friday that it is set to acquire Hickman’s Family Farm.
According to the announcement, the joint venture and egg producer have entered a binding agreement and the transaction is expected to be complete by the end of the year.
The acquisition comes after the West Valley egg farms lost 3 million egg-laying chicken to bird flu earlier this year in May.
“Expanding into the United States has long been a vision for our family, and taking this step through the acquisition of Hickman’s makes this moment especially meaningful,” Mantiqueira Founder Leandro Pinto said in the announcement. “Hickman’s is a respected leader with a legacy of quality and service. Combining their deep industry expertise with our global experience positions MTQ USA for long-term success.”
Details on Hickman’s Family Farm acquisition
The purchase of the egg producer is being used to not only launch MTQ USA but also as the joint venture’s formal entry in the U.S. market.
“By partnering with the Pinto Family through MTQ USA, we are creating strong synergies that will enhance collaboration, improve efficiency and accelerate innovation,” JBS USA CEO Wesley Batista Filho said. “Hickman’s brings decades of experience and credibility in the American egg industry, and together we see significant opportunity to deliver more value to customers across the country.”
After losing millions of its egg-laying hens to avian influenza, Hickman’s Family Farm confirmed layoffs of 85 employees in June and cited the outbreak as the reason.
“Our family has spent generations building a company rooted in excellence and integrity,” Hickman’s Family Farm President and CEO Glenn Hickman said. “We are confident that this transition will bring even greater opportunities to our customers, employees and partners.”
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