In this insightful Q&A, Jim Eadie interviews Pat Joyce about the recent creation of Passel Farms and the strategic acquisition of Cactus Family Farms. Joyce discusses Standard Nutrition Company’s innovative approach to integrating new partnerships, leveraging advanced technologies, and enhancing operational excellence. This conversation sheds light on how these developments are poised to shape the future of the pork industry, driving success and resilience in an increasingly competitive market.
- What inspired the creation of Passel Farms, and how does this reorganization reflect Standard Nutrition Company’s commitment to innovation and excellence in the pork industry?
Passel Farms’ creation is significant in two ways. First, Passel Farms represents Standard Nutrition Company’s shift from a management service strategy that serves previously managed producers and partnerships to a more integrated model for existing, new, and future partners to invest and participate in pork production. Secondly, our goal is – as it has always been – to improve our operational excellence, strategic focus, and risk-return profile. For several years, Standard has been working with partners to achieve this goal in order to position the company for an increasingly competitive industry.
- With the acquisition of Cactus Family Farms, what unique strengths and capabilities does this bring to Passel Farms, and how will it transform your operational strategy?
It always starts with people. I am truly excited to see these two teams of committed, passionate, and experienced people come together to ensure that the performance of our combined businesses continues to improve year after year. Additionally, Cactus adds assets (such as a boar stud, investment in gilt development, and other complementary assets) with both geographical similarities and diversification. Both parties also possess similar marketing strategies. These attributes, combined with Passel Farms’ milling assets, offer synergies and an opportunity to better manage Passel Farms moving forward.
- Given the complexities of the pork production market, how does Passel Farms plan to leverage new technologies and practices to stay ahead of industry challenges and trends?
From an information technology perspective, Passel Farms has been very proactive in how we manage information, understand our results, forecast our business, and manage risk. Cactus’ information technology foundation, although similar in approach, is advanced in development. When combined, best practices of both will provide many opportunities to better utilize information technology to unlock the potential of our teams and decisions. The combination of our businesses provides resources and more options to find efficiencies, improve biosecurity management, and align people, assets, and supply chain to continue improving the resiliency of the business amid a consolidating and competitive industry.
- Can you provide a real-world example of how the multidisciplinary expertise within Passel Farms has already started to create value and drive success in your operations?
While it is early and we have a lot to learn about each other, our teams have already started to identify opportunities to streamline processes, better utilize assets, and improve the focus of teams and people. At the same time, there is a solid foundation of familiarity that will lead to value creation for the business.
