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Stampede Meat purchases New Mexico factory in 36m deal

first_imgStampede Meat purchases New Mexico factory in $36m dealPosted By: Martin Whiteon: July 19, 2018In: Business, Food, Industries, ManufacturingPrintEmailUS-based meat producer Stampede Meat has invested $36 million to purchase and re-open a former Tyson Foods production facility in Sunland Park, New Mexico.Stampede claims that the acquisition will double the company’s total production capacity and create up to 1,295 jobs over the next five years.Stampede supplies protein products to clients in the foodservice and retail industries, and once it is operational the facility will supply meat products such as beef, turkey, chicken, prepared meals and alternative proteins to clients throughout the US, as well as in Canada and South America.The company estimates that the new facility will become operational in October 2018, following a large-scale job hunting process, described by the company as “one of the largest job creation projects in New Mexico in the last decade.”Stampede Meat CEO and president Brock Furlong said: “Stampede has been at capacity on some critical lines for a number of months.“Starting this fall, this will allow Stampede to grow with a significant investment in cook capacity and new capabilities to continually play a more critical role as our customers look for more turn-key solutions.”The project was supported by the New Mexico Development Department, which provided $3 million in funding to support the purchase.New Mexico governor Susana Martinez added: “The power of New Mexico’s economic development tools are on full display, as we proudly welcome Stampede Meat to Sunland Park.“It will dramatically affect not only the community of Sunland Park, but also the entire state .”Share with your network: Tags: manufacturingmeatproteinStampede MeatUSlast_img read more