Acosta Sales & Marketing signed a definitive agreement to acquire Anderson Daymon Worldwide, the sales and marketing agency that exclusively serves Costco Wholesale, a multi-billion dollar global retailer with warehouse club operations in eight countries.

“Anderson Daymon’s extensive experience serving Costco for more than three decades will not only broaden our platform and enable us to better serve a very important growth customer, but also increases the breadth and depth of our capabilities at Costco for our clients,” said Robert Hill, President and CEO of Acosta. “Anderson Daymon’s history of leadership and solid growth, unique capabilities of their associates and commitment to understanding every facet of Costco will be of particular importance as we look to help our clients prosper at this important customer.”

Acosta’s Costco team will merge with Anderson Daymon and become ADW, an Acosta Company, a new division focused solely on Costco Wholesale. Moe Krabbe, CEO of Anderson Daymon Worldwide, will serve as president of the new group reporting to Darian Pickett, Acosta’s president, strategic channels. Spike Anderson, chairman and founder of Anderson Daymon Worldwide, has agreed to remain with the company for at least one year following the closing to provide valuable leadership and transition assistance.

ADW will remain headquartered in Issaquah, Wash., with all 11 regional offices remaining in full operation. As part of this transaction, Daymon Worldwide will no longer hold an interest in this business and will not be affiliated with the new Acosta division.


Anderson Daymon represents food and nonfood products exclusively to Costco. The company has more than 200 employees and a network of 11 regional offices in the U.S., Canada and the United Kingdom.


“By joining forces with an industry leader like Acosta, we will provide enhanced services for our clients, including access to full-service and experiential marketing solutions, shopper analytics and best-in-class training,” said Krabbe. “We are very excited about the potential of this partnership and the new, diversified offerings we will deliver together to Costco and its members.”

The transaction is expected to close in February 2014.

Crystal Bridges Museum of American Art recently acquired the Jeff Koons sculpture, Hanging Heart (Gold/Magenta), which was installed in the museum this week ahead of Valentine’s Day.

The bright gold heart, which measures some 9.5 feet wide, surmounted by an enormous magenta stainless steel ribbon, in now suspended from the ribbed ceiling of one of the museum’s eponymous glass-walled bridges.

Hanging Heart (Gold/Magenta) is a massive, high chromium mirror-polished stainless steel heart sculpture, which is one of five unique versions created by Koons, each with a different transparent color coating. It is the only one, however, that was retained by the artist until sold directly to Crystal Bridges in 2013.

"Hanging Heart, ultimately, is a symbol of warmth, humanity, spirituality, and romance," Koons said. “I’m thrilled to have this major piece in a location in the U.S. where the sculpture will interact with the public. It offers an opportunity for many people to view the work in a space that has a sense of not only romantic but also spiritual transcendence.”

Crystal Bridges President Don Bacigalupi said many think of Koons as the heir to the Warhol legacy, advancing the tradition of Pop Art in taking everyday imagery into a much different realm.

“We're pleased to be able to share this sculpture with our guests,”Bacigalupi said.

A tense political rivalry from 2012 could be coming back for round two in 2014 as former Rep. Mary Beth Green, R-Van Buren, endorsed Rep. Terry Rice, R-Waldron, on Thursday in his primary challenge to incumbent Sen. Bruce Holland, R-Greenwood.

Green's husband, former Rep. Rick Green, R-Van Buren, faced Holland in the 2012 primary. After losing the hotly contested race, Green broke ranks with his party and instead endorsed Holland's Democratic opponent, Rep. Tracy Pennartz of Fort Smith.

In explaining his reasoning at the time, Mr. Green cited a previous incident involving Holland in a high-speed pursuit with police.

In announcing her support for Rice's candidacy, Mrs. Green said Rice was a politician who "understands conservative values."

“I am proud to endorse Representative Terry Rice for Arkansas State Senate," she said. "Terry is a small business owner who understands the conservative values of not only Van Buren but also the entire state senate district. I look forward to doing all that I can to ensure that he is victorious.  I would encourage any Republican primary voter to vote for Terry Rice for State Senate.”

Rice, who is term limited in the House, said he appreciated Green's support in his Senate bid.

“I am grateful for Mary Beth Green’s support in my bid for State Senate. This will be a close race, and I am humbled by her support and trust in me.“

In his last term in the House, Rice has been serving as chair of the House Performance Review Committee, as well as serving on the Insurance and Commerce and Public Transportation committees. He is also vice chair of the Arkansas Legislative Council.

Two Sebastian County department heads will be challenging each other in the race for County Treasurer/Collector now that Sebastian County Human Resources Director Steve Hotz has announced he would challenge incumbent Judith Miller in the May Republican primary.

In an e-mail to The City Wire Friday (Feb. 14), Hotz said he was running for the office in an attempt to save taxpayers money and make the office more efficient, adding that his perch in the human resources office has allowed him to see changes he would like to make to the office.

“Working at the Sebastian County Courthouse these past 2 ½ years has opened my eyes to areas of improvement I know I can bring to this office," he said. "I will bring my experience to the table and review all procedures to see what works well, and what can be improved. I will make every effort to make this office efficient and convenient to Sebastian County residents and businesses, and make sure extra effort is given with regard to helping our veterans receive the services and privileges they have earned. (Taxpayers) can also count on me to keep an accurate and detailed account of all county receipts and disbursements while investing tax revenues in a conservative fashion.”

Miller, who has been engaged in a long-standing dispute with Sebastian County Judge David Hudson over software issues in her office and the judge's office, announced her re-election in January.

At the time, Miller said she was running for re-election based on her achievements since taking office in 2009. Her campaign highlighted what it said were some of those accomplishments.

"Miller has introduced some innovative (ways) to make the Treasurer/Collector's office more efficient and convenient in its service to the public. The Collector's office offers partial payments, online payments, or Smartphone applications for taxpayers. Taxpayers can view their statement on line plus their receipts. Miller has updated the Treasurer's and Collector's software to make communication with the taxpayer easier and keep the offices up on the latest technology."

Arkansas' primary election is set for May 20.

Twice in recent days, Bloomberg has reported Tyson Foods’ interest in acquiring Michael’s Foods, an egg protein business controlled by Goldman Sachs private equity arm.

Tyson CEO Donnie Smith said recently the protein giant would continue to look for expansion opportunities that fit its long-term growth plans. Tyson recently acquired Bosco’s Pizza, and prior to that it was Don Julio Foods and Circle Foods, all three deals fit in Tyson’s plan to grow its value-added sales and ramp up operations in its prepared foods segment.

Tyson said it does not comment on rumor or pending deals.

Bids for Michael’s Foods are due in the next week for the private sale. The deal could be worth a reported $2 billion, according to a Bloomberg source.

Michael Foods Group Inc., based in Minnetonka, Minn., is a producer and food distributor of egg products, refrigerated potato products, cheese and other dairy-case items. Like Tyson the company serves the foodservice and retail segments.

In November, Michael’s reported net sales through three quarters of 2013 totaled $1.435 million, up 6.1% from the same period in the prior year. Net earnings for the nine months ended Sept. 28, were $34.5 million, compared to $16.4 million in 2012.

The company was acquired by Goldman from buyout firm Thomas H. Lee Partners LP for $1.7 billion in 2010, according to data compiled by Bloomberg.

After a wild January ride, cattle and beef markets are settling into somewhat more stable levels moving forward, according to Derrell Peel, livestock marketing specialist with Oklahoma State University.

He notes that the onslaught on winter storms have affected beef consumption and distribution as well as feedlot production.
 
Through the first six weeks of 2014, beef production is down 8.6% with cattle slaughter down 9%, according to the U.S. Department of Agriculture stats. As a result, Peel said beef margins continue to adjust with relative winners and losers among the various industry sectors. 

“Wholesale boxed beef cutout had the wildest ride with Choice cutout spiking up to $240 per hundredweight, up 20% from the beginning of the year, and retreating to current levels under $208 per hundredweight,” Peel notes.

He said packers benefitted partially from the short-lived price increase because the values represented a limited spot market for wholesale beef and many packers had a significant portion of their beef production forward priced at lower values.

Peel said packer margins continue to be squeezed by higher fed cattle prices and their limited ability to recoup those costs for the processed meat at high spot prices because of forward contract deals. Packer margins have been further squeezed as boxed beef prices have fallen more than fed cattle prices, he said.

The winner in the recent volatile market swing is the fed cattle market as prices have retained more than half of the January gains. Peel reports fed cattle prices of $135 per hundredweight for the first week of January, dropping to levels of $142 after peaking at $150 about three weeks ago. 

He said feedlots are breaking even or doing slightly better at this time. Peel said that could mean they are limiting losses more than gaining profits, but it is still well above earlier expectations for the market at this time.

A series of winter storms continues to pummel the northern half of the country and winter weather impacts on fed cattle performance will continue for some time, Peel said.

Arvest Bank and its employees in Northwest Arkansas raised $146,466 in donations for the United Way to help serve individuals and organizations across the region in its 2013 campaign.


The bank said area efforts helped increase donations by $40,000 from the 2012 campaign. The money represents a combination of Arvest employee contributions and corporate donations.


“The United Way’s workforce campaign is a lifeline to thousands of families in our region and contributing to it is one of the most powerful ways we can serve the community,” said Roger Holroyd, president of Arvest Bank in Siloam Springs and a former board of member for the United Way of Northwest Arkansas. “It gives our Arvest family the chance to help our neighbors.”


The United Way of Northwest Arkansas supports 75 programs in the region operated by organizations that feed, educate and care for children, families and adults. It serves four counties: Benton, Madison and Washington in Arkansas, and McDonald County, Missouri.

Springale resident Darin Gray of Springdale has been named the president of Little Rock-based Cranford Johnson Robinson Woods, Arkansas’ largest advertising, marketing and public relations companies.

Gray earlier this month announced he was leaving his job as publisher of the Northwest Arkansas Business Journal.

Wayne Woods, who has served as president, will continue to work as chairman and CEO of CJRW.

Gray Matters, LLC, of Fayetteville, had been placed in a family trust to be administered by his wife, Tami. In 1997 Gray began serving as President and Publisher of the Northwest Arkansas Business Journal and its related publications. In June of 2004, Gray acquired the Northwest Arkansas division of Arkansas Business Publishing Group.

“For some time now, we have been planning to name a President of the firm so that we can best manage and plan our growth and development and prepare for the future,” Woods said in a statement. “During that process, we identified a number of qualities that we wanted in a President. Chief among them are executive experience in managing a multi-faceted business, proven leadership qualities, a working knowledge of Northwest Arkansas, and a deep understanding of the Arkansas business community and the state in general. ... I am hard-pressed to think of anyone who has those qualifications and is more widely respected and genuinely admired around the state than Darin.”

“The cliché that ‘timing is everything’ certainly applies in this case,” said Gray. “At the time my family and I were talking through ‘what’s next?’ CJRW reached out to me. A casual conversation became a serious discussion and here we are today. I have long had deep respect for the agency, its founders and principals, and what it has meant to the business community and the entire state.

As president, Gray becomes a member of CJRW’s Executive Committee and its Board of Directors. Continuing to serve on the Executive Committee will be Wayne Woods, chairmen Emeriti Wayne Cranford and Shelby Woods, and Steve Allen, senior vice president and chief financial officer.

Gray, his wife Tami and son, Caleb, live in Springdale and will maintain their residence there. Gray will split time between CJRW’s Northwest Arkansas office in Johnson and the agency’s downtown Little Rock location.

Tyson Foods Inc. recently promoted Kevin Hueser to senior vice president of beef margin management. He will oversee cattle procurement, boxed-beef pricing, ground beef and trim sales and pricing, beef-production planning, carcass sales, fats and oils and rendered-product sales.

His career in the industry began at IBP Inc., which is now Tyson Fresh Meats. He held various management positions in operations, human resources, sales and marketing and beef pricing for IBP.

Hueser was also a consultant at Lakeside Packers in Brooks, Alberta, a previous wholly owned Canadian subsidiary. His most recent position was vice president of boxed beef pricing.

Murphy USA, the retail spinoff of Murphy Oil Corp. posted fourth quarter profits of $93.6 million on revenue of $4.19 billion. For the full year, El Dorado-based Murphy USA posted net income of $235 million on revenue of $18 billion.

The company also recognized a gain from its sale of a Texas ethanol plant in the last quarter of 2013.

“In completing the sale of the Hankinson ethanol plant for a premium price, we delivered on our commitment to rationalize non-core assets,” said President and CEO Andrew Clyde. “We continue to see non-tobacco growth expand through our innovative promotions and larger stores. We opened 18 stores in the quarter including 14 of our new format 1,200 sq. ft. stores. This includes our milestone 1,200th store in mid December in our hometown of El Dorado, Arkansas. Our financial position remains very strong.”

During 2013, Murphy USA opened a total of 39 retail locations, while one location was closed. Through mid-February 2014, the company has opened an additional five sites. With the addition of these stores in 2014, Murphy USA has 1,208 total locations in operation that include 1,022 Murphy USA sites and 186 Murphy Express sites. There are 15 sites under construction.

Murphy USA’s stock closed trading on Wednesday at $39.30 per share. The company’s shares have traded between $36.12 and $46.91 since it went public in early September 2013.

Michael Gerrard will speak on climate change regulation at NorthWest Arkansas Community College on Feb. 27. Gerrard is a professor at Columbia Law School in New York, where is also serves as the director of the Center for Climate Change. The event is will begin at 4 p.m. in the Shewmaker Center for Business Development and is hosted by the NWACC Honors Program and the Service Learning Program.

The subject of Gerrard’s talk is “Climate Change Regulation: Where Are the U.S. and the World Heading?”

Gerrard has written or edited 11 books, including “Global Climate Change and U.S. Law.”  Since 1986 he has been an environmental law columnist for the New York Law Journal.

He practiced environmental law in New York from 1979 through 2008, most recently as partner in charge of the New York office of Arnold & Porter LLP. He worked as a trial and appellate litigator, having tried numerous cases and argued many appeals in the federal and state courts and administrative tribunals. Upon joining the Columbia law faculty in 2009, he became Senior Counsel to the firm. 

Gerrard has lectured on environmental law in Great Britain, France, Netherlands, Denmark, Italy, Malta, China, India, Japan, Chile, Canada and throughout the United States.

Randy Franco, president of NorthWest Arkansas Community College’s Speech and Debate Team, recently qualified for the 2014 Interstate Oratory Association National Championship.  

Franco won second place overall at the Southern Forensics Championship event held Jan. 31 to Feb. 2 in Hattiesburg, Miss. He is from Bentonville.

For nearly 150 years, Interstate Oratory has taken only the top two students from each state to compete for title of top orator, and all students at the competition have their speeches published in the journal “Winning Orations.”

Franco is the first student from NWACC to earn a bid to this tournament, which will be held April 25-26 at James Madison University in Harrisonburg, Va.Faculty member Erick Roebuck is the coach for the college’s new speech and debate team.

The Northwest Arkansas Clinical Pastoral Education Institute will present an interactive grief seminar for parents and families who have suffered the loss of a child. The “Parents Left Behind” seminar is slated for April 5. The event will held at the Jones Center for Families in Springdale from 8 a.m. until noon. There is no charge for resident in Northwest Arkansas or the Fort Smith metro area.

The seminar, sponsored by Northwest Health System and The Grief Center at Circle of Life will begin with breakfast and then feature keynote speaker Susan Averitt MD, a local pediatrician and bereaved mother.  Averitt’s life was changed forever in 2006 when her five year old daughter Cameron was killed in a school zone accident. In the years after Cameron’s death, as Averitt grieved her loss and worked to rebuild her life, she was struck by the lack of support for parents on this difficult journey. 

This event will allow Averitt to share her experience with other bereaved parents as she continues her work to help others in honor of her Cameron’s memory. Participants will have the opportunity to attend one of four interactive breakout sessions including: Grieving Partners, Grieving Families, Forgiveness and Navigating Life.  Each session will be directed by specialists in counseling and/or bereavement. The event will close with a memorial ceremony honoring the memory of loved ones.

Register online here for the seminar.

Another candidate is entering the race for House District 93, which covers sections of Bentonville and Centerton in Benton County.

Democrat Leah Williams, who serves on the Bentonville City Council, announced on her Facebook page that she would kickoff her campaign to unseat first-term Rep. Jim Dotson, R-Bentonville, at an event in Centerton on Feb. 28.

Williams, who has previously worked as a legal and compliance associate for Wal-Mart's home office in Bentonville, has made taxes, jobs and education the centerpiece of her campaign.

On her website, Williams said she "knows that in order to remain current and competitive, taxes must be kept reasonable and as low as possible for individuals and businesses alike. All Arkansans deserve to achieve economic prosperity."

Her positions on jobs and education are more vague, stating that she "supports welcoming businesses to Arkansas in order to foster job creation throughout the state, but particularly in Bentonville." She goes on to explain that "strong schools are the key to an educated and well trained workforce — something that will attract and keep jobs in our corner of Arkansas."

An alum of the University of Memphis, Williams is no stranger to politics, previously serving as a legislative aide to Democratic Rep. John DeBerry, who represents a portion of Memphis in the Tennessee General Assembly.

Williams is the only announced Democratic candidate in the District 93 race. Dotson is facing another member of Bentonville's City Council, Alderman Bill Burckart, in the Republican primary on May 20.

An attempt to reach Dotson for comment was unsuccessful.

Blake Holzhauer was recently appointed as the chief lending officer for Centennial Bank's Northwest Arkansas region, where he will oversee all facets of lending.
 
“We will utilize his experience to continue growth for Centennial Bank,” said Scott Hancock, Northwest Arkansas divisional president. “Blake’s attention to customer needs and willingness to go the extra mile will provide strong results in the near future.”
 
Throughout his 12-year banking career, Holzhauer has worked in several areas of the bank, most recently as senior vice president / commercial lending for Centennial Bank in Searcy. His background includes originating and servicing commercial and agriculture loans.
 
Holzhauer earned his a bacheolor’s degree in finance from Arkansas State University. He has also graduated from Barret School of Banking in Memphis, Tenn., and from Southern Methodist University’s Graduate Commercial Lending School in Dallas. Holzhauer has served in several civic organizations in the northeastern part of the state.

He is relocating to Northwest Arkansas with his wife Jennifer and two children. Holzhauer will work from Centennial Bank’s Joyce Branch in Fayetteville.

Sales slipped and profits fell as Dillard’s reported its fourth quarter and full year earnings on Monday. The Little Rock-based retailer reported fourth quarter net income of $119.1 million on sales of $2.08 billion. One year ago, Dillard’s posted profits of $161.4 million on sales of $2.15 billion.

For the full year, Dillard’s recorded $323.7 million on lower sales of $6.69 billion. In its last fiscal year, Dillard’s posted $336 million on revenue of $6.75 billion.

Dillard’s had several one-time charges in its fourth quarter results, which included:
• A $6.8 million after-tax gain ($0.14 per share) related to the sale of a former retail store location;
• After-tax asset impairment and store closing charges of $1.1 million ($0.02 per share); and
• Approximately $18.1 million ($0.38 per share) in tax benefit due to a one-time deduction related to dividends paid to the Dillard’s, Inc. Investment and Employee Stock Ownership Plan.

Excluding these items, Dillard’s would have reported $137.6 million ($2.87 per share) for the 14-week period ended February 2, 2013.

Other highlights of the quarter include a 2% increase in comparable store sales, diluted earnings per share excluding certain items of $2.69 versus $2.87, retail gross margin decline of 180 basis points of sales; and operating expense improvement of 90 basis points of sales.

“Although it was a profitable fourth quarter, we are disappointed in our gross margin performance, as lower than anticipated sales necessitated heavier markdowns. We are pleased with our expense control as well as with our strong cash flow for the year,” said Dillard’s CEO William T. Dillard.

Dillard’s shares opened at $83.90 on Monday. The company’s stock has traded between $75.33 and $97.87 per share in the last 52 weeks.

Republican primaries keep popping up across the Fort Smith and Northwest Arkansas areas, with the latest primary taking place in House District 88, a district represented by first-term Rep. Randy Alexander, R-Fayetteville.

Lance Eads, vice president of economic development at the Springdale Chamber of Commerce, announced Monday (Feb. 24) that he would challenge Alexander in the May 20 Republican primary.

Eads, a Springdale resident who has previously served on the Washington County Quorum Court and as chair of the Springdale Advertising and Promotion Commission, wrote in a press release announcing his candidacy that he wants to take his "pro-business attitude to the State Capitol in Little Rock."

"I have been blessed to play a part in Springdale's tremendous job growth as an economic developer and I want to do everything I can to help foster an environment where our companies are able to add more and better jobs for our residents and give our children the opportunities they deserve," Eads said.

The graduate of Prairie Grove High School and Ouachita Baptist University touts himself as "a pro-life conservative who supports the freedoms given with the Second Amendment and believes government should limit its reach to allow the free enterprise system to drive the economy."

Eads is a member of Cross Church in Springdale (formerly First Baptist Church of Springdale), where he leads a weekly adult Bible study. He and his wife, Kim, live in Har-Ber Meadows with their daughters, Madilyn, 13, and Jami Grace, 9.

• PepsiCo pauses to improve Quaker business
Brian Cornell, CEO of PepsiCo Americas Foods, said Quaker has been like many companies that have been caught in some of the headwinds prevailing in traditional center-of-store categories.

“It has really been a tale of kind of multiple stories,” he said during a recent consumer analyst conference in New York. “Our innovation at Quaker continues to really perform well with today’s consumer. I feel great about innovation like Real Medleys, areas where we brought yogurt to bars and some of the things that we have done across our portfolio.”

The ready-to-eat cereal has been a challenged category over the last several years.

“We have a significant ready-to-eat cereal business, (and) the snack bar business has seen some additional headwinds,” Cornell said. As a result these challenges, PepsiCo is “stepping back” with Quaker, he said.

He indicated the company is sharpening its focus on how to build the Quaker trademark, as well as how to bring the right innovation to unlock pockets of growth in the brand’s portfolio.

“So it’s a work in progress right now, but what is working is innovation, which tells me as we look forward we’ve got a better understanding of what the consumer is looking for,” Cornell said. “We have got a very trusted brand and we better make sure that we find ways to unlock and make the brand even more relevant going forward.”

Operating profit for the Quaker Foods North America segment in fiscal 2013 ended Dec. 28, was $617 million, down 11% from $695 million during fiscal 2012. Revenue for the segment was $2.612 million, down 1% from $2.636 million.

Pepsi and Quaker are major suppliers to Wal-Mart Stores with local sales offices. Cornell was formerly CEO of Sam’s Club prior taking the reigns at PepsiCo.

• Kraft trims management structure
John Cahill, executive chairman of Kraft Foods Group Inc., will transition to the position of non-executive chairman, effective March 8. The shift, approved by the Kraft board, was announced earlier this month.

“”The announcement reflects the board’s confidence in the progress of our business,” said Mackey J. McDonald, who is lead director on Kraft’s board. “John has been instrumental in establishing Kraft as a formidable independent company. We are pleased that he will continue to lead the board and work with management to sustain our momentum.”

Cahill joined Kraft Foods Inc. in January 2012 as the executive chairman designate and became executive chairman of Kraft Foods Group in October 2012 when it was spun off from Mondelēz International. Noting the company’s “solid (financial) results” issued recently, Kraft said the change was consistent with succession plans.

In the 2013 fiscal year, Kraft Foods Group reported net earnings of $2.715 million, or diluted earnings per share of $4.51, which was up from $1,642 million, or $2.75 per share, in the previous fiscal year.

Restructuring costs related to its spin-off were lower than expected for Kraft Foods Group, Inc. as the company reported net earnings growth of 65% in the fiscal 2013. This year, reductions in the government’s Supplemental Nutrition Assistance Program potentially may cut into earnings, the company warned.

Kraft is a supplier to Wal-Mart Stores Inc. with a local sales office in Bentonville.

Gov. Mike Beebe, Rep. Warwick Sabin, D-Little Rock, and AEDC director Grant Tennille revealed a $575,000 grant to the Arkansas Regional Innovation Hub, which held a “wall breaking” ceremony at a downtown North Little Rock building that will house the group’s efforts.

The building will be remodeled to allow for an entrepreneurial program center that will feature a network of resources, programs and education opportunities to attract, develop and retain emerging Arkansas talent.

“The nature of our economy is changing, and if our state wants to compete for the best and brightest minds, we need to change the way we think and do business,” Gov. Beebe said. “The Innovation Hub attracts those who think outside the box and who will forever change the economic climate in the area. They will be our business leaders of tomorrow.”

The innovation center combines maker space, education and arts programs, and entrepreneurial advisors and resources. Its aim is to create work space for entrepreneurs to experiment and share resources in an effort to grow start-up companies.

It is modeled after New Orleans’ Idea Village, which has provided direct support to more than 3,000 entrepreneurs, generated more than $100 million in annual revenue, and created more than 2,000 jobs in New Orleans since its inception in 2000.

“Our new Innovation Center builds on the best practices from successful national models to create a broad set of resources for people of all ages here in Central Arkansas,” said Rep. Sabin, executive director of the Arkansas Regional Innovation Hub. “We will provide the opportunity for everyone to discover and develop their interests and talents and unlock their unlimited potential.”

Recently, the innovation center also received a $250,000 grant from the Delta Regional Authority.

Peco Foods Inc. has acquired Townsends’ poultry plant, feed mill and hatchery in Batesville. Peco also said it will purchase selected inventories, according to an announcement by Mark Hickman, CEO of the Tuscaloosa, Ala.-based poultry company.

“We are pleased to add the Townsend Foods complex in northeast Arkansas to our operations,” Hickman said Friday, (Feb. 22). “The Batesville plant is very similar to our complex in Sebastopol, Miss., and will fit seamlessly with our overall market strategy and growth plan.”

The deal was transacted through the bankruptcy court auction and is slated to today, (Feb. 25). 

Peco Foods is the 8th largest poultry producer in the United States and privately held and family operated. The company has a processing capacity of 24 million pounds of poultry per week in its six other slaughter and processing plants located in Alabama and Mississippi.