SimÃ©us Foods International (SFI), a leading food sup- plier for some of the country’s popular restaurant chains, recently acquired a North Carolina meat processing firm. The purchase further expands the company, No. 15 on the BE INDUSTRIAL/SERVICE 100 list with $105 million in sales. SFI’s acquisition of Fast Food Merchandisers, Inc. (FFM) of Forest City, North Carolina, which had 1998 projected sales of $70 million and a team of 350 employees, will extend the Texas-based concern to more than 750 workers and boost revenues to $175 million. The acquisition of the roast beef and pork processing assets of FFM includes a 170,000-square-foot production facility.
“This is really a step toward reaching our vision of being a $1 billion company in the next five years,” says CEO Dumas M. SimÃ©us. Prior to purchasing Portion-Trol Foods from Advantica in 1996, the 56-year-old was president and CEO of TLC Beatrice International Holdings Inc. (No. 1 on the BE INDUSTRIAL/SERVICE 100 list).
SFI provides products to restaurant chains, including Denny’s, Quincy’s Steak House, Popeye’s Chicken and T.G.I. Friday’s. By purchasing the North Carolina facility, SimÃ©us hopes to increase his stake in the competitive restaurant market along the East Coast.