SILOAM SPRINGS (KFSM) - One of the nation's biggest canned food companies is moving into Siloam Springs. Del Monte Foods, Inc., based in San Francisco, announced the purchase of the Sager Creek Vegetable Company on Wednesday (Mar.11).
Sager Creek is headquartered in Siloam Springs and was formerly called Allens, Inc. The company, which was purchased for $75 million, produces canned vegetables and generates an annual revenue of approximately $250 million.
"Del Monte, which is a well-known name around the country, saw value in what Sager Creek is doing and can do in the future and decided to buy them and that's really good news," said Wayne Mayes, President of Siloam Springs Chamber of Commerce.
Mayes said Del Monte plans to keep the current employees on payroll.
"The impact is almost immeasurable, which is why we are so delighted," he said. "Hopefully at this point they've been bought by a company that is going to keep them in place and let them keep doing what they've been doing business as usual."
Sager Creek acquired Allens, Inc. in a bankruptcy proceeding in 2014.
Allens, Inc. was founded in 1926. The company was owned and operated by generations of the Allen family.