Opal Foods LLC is pleased to announce that, Rose Acre Farms, Inc. and Weaver Eggs have purchased AGR Partners’ interest in Opal Foods. Opal Foods was formed in 2014 as a strategic partnership among Rose Acre Farms, Weaver Eggs, and AGR Partners to acquire the assets of Moark LLC. Since then Opal Foods has operated as an independent company headquartered in Neosho, Missouri.
With regard to the new ownership structure, Kelly Brown, independent director and Chair of Opal Foods’ governing board, noted, “Opal has experienced tremendous growth over the past 6 years, and the One Opal family culture aligns perfectly with the family business philosophy of its owners.” Adds Ejnar Knudsen, CEO of AGR Partners, “Our goal is to invest in family businesses and create value for the owners. The Weaver and Rust families have been great partners over the past 6 years, and we are delighted to sell our membership interest to these two family businesses.
What did the purchase include?
Rose Acre Farms and Weaver Eggs purchased AGR Partners’ entire ownership interest in Opal Foods.
Will Weaver Eggs and Rose Acre Farms run the operation together or split it?
There are currently no plans to split up the company. For the foreseeable future Opal Foods will remain an independent company with its own management team. Representatives of Rose Acre Farms and Weaver Eggs will continue to serve on the Board and provide governance and oversight for the business.
How will this change impact Opal Employees?
The change in ownership is not expected to have any significant impact on day-to-day company operations or headcount.
Why is AGR Partners selling its interest in Opal?
AGR Partners’ role, as an investor, is to be a supportive partner. AGR seeks out and builds relationships with owners, management teams and co-investors that can complement AGR’s expertise and add strategic and operational value. Opal Foods has benefited from the investment and the Board is confident the business is now positioned to grow under its new ownership structure.