Dealers Celebrate Centennial
CAMP HILL (Cumberland
Co.) - The 100 year-old Purina
Mins, Inc., St, Louis, MO, started
its second century with a new own
er. And David L. Abbott, execu
tive vice precident and chief opera
tions officer, said he couldn’t be
mote pleased with the outcome of
the buy-out that took the animal
nutrition giant away from British
Petroleum and put it in the hands of
the Sterling Group. With input
from Sterling, management and
employees of Purina own 35 per
cent of the company, and the
remaining 65 percent is owned by
individual investors and associates
of Sterling.
Abbott made his statements at
the North Atlantic Area Dealers
Centennial meeting Tuesday after
noon. The dealers were feted to a
buffet lunch complete with a com
pany 100-years birthday cake.
“We went through a process that
involved 18 months of rumors, and
100 companies who requested
information about Purina Mills,”
Abbott said. ‘Twenty-six compa
nies made offers to buy, and finally
10 companies were selected to
review financial and legal
information.
“Of all the possible companies
who had an interest in buying Puri
na, the Sterling Group was the
most comfortable by far to the Pur
ina people. They have a philoso
phy a lot like we do,” Abbott said.
“They believe in buying market
leaders in industries that are
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mature and consolidating in the
U.S. Then they want to grow our
position to be part of that consoli
dation, not stand by and watch it as
we had done for so many years.
“It’s been a long time since Puri
na Mills has been in an acquisition
mode. In the past we have talked
about what plants to close and how
we can draw back to be mote effi
cient Now we have new owners
who have ideas of expansion.”
On of the reasons the new own
ers are so pleased is because per
formance of the compnay has
already exceeded expectations
with an incredible performance in
1993. Volume surpassed five mil
lion tons of feed, die highest com
pany level since 1983. Profits were
strong. And the first quarter of this
year is even better. In March the
company exceeded last year by
20,000 tons. And this year to date
Purina is 55,000 tons ahead of last
year in the first quarter. The com
pany showed growth in every
single category of feed. So the
relationship with the new owners
is very positive.
Roger Struck, American region
al director, gave the background of
the company. William H. Dan forth
founded the company in 1894 and
is credited with the philosphy that
has been the fabric of the company
for over a century. He always
preached that you should be your
own self, at your very best, all the
time.
(Turn to Page A3B)
* ** +* v<*r
V * <
.Anthony, center, were irina Mills o\
dais jr 100 years of service to farmers In Strausstown, Berks County. From left, Kurt
Loudenback, Larry Belluscio, Marilyn and Donald Anthony, John Zerby, and Roger
Stork.
Bottom photo: Celebrating Purina Mills centennial birthday with a cake are from
left, David Abbott, executive vice president and chief operating officer; Kurt Louden*
back, division sales manager; Lawrence Belluscio, division sales manager; John
Zerbe, general manager, North Atlantic area, and Roger Stork, American regional
director.
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