Turkey producer Butterball LLC acquired Illinois-based Gusto Packing Co. Inc., a member of the 2012 HispanicBusiness 500, it was announced.
Family-owned since 1972, Gusto offers six product lines, including bacon, smoked pork and turkey, and hams. The company's 260,00-square-foot facility, located 45 minutes west of Chicago, processes 6 million pounds of products each week, according to Gusto's website.
Related: Top 20 Hispanic-owned Companies in Illinois 2012
Butterball is "adding approximately 325 million pounds of further processed capacity to our operations" with the acquisition, Butterball CEO Rod Brenneman said in a statement.
"The acquisition provides Gusto with the opportunity to benefit from a national logistics and distribution network and further enhance quality and food safety initiatives," he added.
Gusto's leadership and some 500 employees will remain aboard, according to the report.
Butterball, based in Garner, N.C., will continue to focus on its branded turkeys and turkey products.
Gusto -- whose tagline is a jaunty "Eat more pork; be a better lover" -- was No. 28 on the 2012 HispanicBusiness 500, with revenues of $268 million in 2011. Because of the acquisition, announced last week, Gusto will not be eligible for the 2013 rankings of U.S. Hispanic-owned businesses.
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