PORKER
Well-known member
Laura's Lean Beef is sold
Bought by Colo.-based firm
By Karla Ward
[email protected]
Laura's Lean Beef Co. doesn't belong to Laura anymore.
The Lexington company, founded in 1985 by Laura Freeman, has been sold to Colorado-based Meyer Natural Angus. The price was not disclosed.
"It's not going to affect anything about our products ... or how we do business," said Chris Anderson, marketing director for Laura's.
He said the company will continue to be based in Lexington and will operate somewhat independently of Meyer.
John Tobe, a former Jerrico executive and partner in the company with Freeman, will remain at Laura's to oversee day-to-day operations.
Freeman will serve in a consulting capacity.
She was not available to comment yesterday on the sale, which closed Dec. 28.
Anderson said Laura's will gain added efficiencies as part of Meyer.
Both companies focus on beef raised on an all-vegetarian diet without the use of antibiotics or growth hormones.
Laura's will benefit from Meyer's distribution systems and will take some of the beef that is too lean for Meyer to use, while Meyer will be able to use some of the beef that is too fatty for the Laura's brand, he said.
Laura's is expected to have more than $150 million in sales this year and is sold in 6,500 stores in 47 states, according to the company Web site.
"She's done well nationally," said Dave Maples, vice president of the Kentucky Cattlemen's Association.
He said he hopes Meyer Natural Angus' presence will open up new markets for Kentucky angus producers.
While naturally raised beef is still a niche product, it is becoming more mainstream.
"Hopefully, this will expand it," Maples said.
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Reach Karla Ward at (859) 231-3314 or 1-800-950-6397, Ext. 3314.
Bought by Colo.-based firm
By Karla Ward
[email protected]
Laura's Lean Beef Co. doesn't belong to Laura anymore.
The Lexington company, founded in 1985 by Laura Freeman, has been sold to Colorado-based Meyer Natural Angus. The price was not disclosed.
"It's not going to affect anything about our products ... or how we do business," said Chris Anderson, marketing director for Laura's.
He said the company will continue to be based in Lexington and will operate somewhat independently of Meyer.
John Tobe, a former Jerrico executive and partner in the company with Freeman, will remain at Laura's to oversee day-to-day operations.
Freeman will serve in a consulting capacity.
She was not available to comment yesterday on the sale, which closed Dec. 28.
Anderson said Laura's will gain added efficiencies as part of Meyer.
Both companies focus on beef raised on an all-vegetarian diet without the use of antibiotics or growth hormones.
Laura's will benefit from Meyer's distribution systems and will take some of the beef that is too lean for Meyer to use, while Meyer will be able to use some of the beef that is too fatty for the Laura's brand, he said.
Laura's is expected to have more than $150 million in sales this year and is sold in 6,500 stores in 47 states, according to the company Web site.
"She's done well nationally," said Dave Maples, vice president of the Kentucky Cattlemen's Association.
He said he hopes Meyer Natural Angus' presence will open up new markets for Kentucky angus producers.
While naturally raised beef is still a niche product, it is becoming more mainstream.
"Hopefully, this will expand it," Maples said.
--------------------------------------------------------------------------------
Reach Karla Ward at (859) 231-3314 or 1-800-950-6397, Ext. 3314.
Because they were a driving force in competition with the other buyers... Now it's all the same........
