Bob Evans food division buys potato farm for $115m
The food division also purchased Pineland Farms Potato Co. for $115 million. The company is based in Maine. Food division President Mike Townsley has been named the new CEO of Bob Evans Farms.
"Today we announced two transactions that are a major step in our strategic transformation that we believe will continue Bob Evans' history of success," said current Bob Evans CEO, Saed Mohseni, in a press release. "The sale of Bob Evans Restaurants enables us to concentrate exclusively on BEF Foods, our fastest growing and most profitable segment."
"We believe this focus will result in higher returns for our shareholders and, as a more focused private business, Bob Evans Restaurants will be better able to deliver on its brand promise of providing quality food and hospitality to every guest at every meal," Mohseni said in the press release.
source: dispatch.com
