FdG led the recapitalization of CBP Resources in February 1996 in partnership with the Company’s management team. CBP Resources is a leading supplier of high-quality animal feed ingredients to manufacturers of pet food and livestock feed. Headquartered in Greensboro, North Carolina, CBP operated five rendering plants in North Carolina, Virginia, and Tennessee that process inedible animal by-products from poultry and meat processors into high-quality protein meals and fats used as animal feed ingredients.
CBP, with an outstanding management team, was recognized as a leader in its industry with regard to profitability, process innovation, and environmental compliance and safety. Management sought to grow internally as they had done in the past, by adding capacity and improving the efficiency of its operations and by selectively seeking add-on acquisitions to increase scale and introduce CBP’s industry-leading management practices to less profitable operations.
In August 1998, CBP was sold to Valley Proteins, a strategic buyer, in a transaction which offered compelling synergies.