As Thanksgiving approaches, Butterball turkey is a staple on many American tables. But despite its popularity, not everyone knows the history behind who owns this iconic brand. This article will uncover the changing ownership and corporate structure behind Butterball turkey over the years.
The Origins of the Butterball Brand
While the Butterball brand has been formally recognized since 1940, the origins of the company date back to the 1950s. The trademark for “Butterball” was purchased in 1951 by Leo Peters, an employee of the Chicago meat processor Swift and Co. Peters was initially unsure how he would use the name, but by 1954 he had patented his process for trimming, dressing and flash-freezing turkeys under the Butterball Turkey brand.
According to Butterball’s website, the name was chosen due to the broad breast and plump, round shape of the turkey. While Peters licensed the Butterball name to Swift during the 60s before selling it outright in the 70s, he retained rights to use the name Butterball Farms for his butter company, which still operates today.
From Swift to ConAgra: Major Acquisitions Over the Years
After purchasing the brand outright from Peters, Swift controlled and marketed Butterball turkeys for many years. However, in 1990, ConAgra acquired Swift and took over the Butterball business as part of the acquisition.
ConAgra continued to grow and expand the Butterball operations over 16 years. Then in 2006 ConAgra sold the Butterball turkey business to Carolina Turkeys, a privately held North Carolina-based company. Following this, Carolina Turkeys changed its name to Butterball LLC and announced plans to build a new $12 million headquarters in Garner, NC.
Joint Venture Between Smithfield Foods and Maxwell Farms
The very next year, in 2007, Butterball LLC became a joint venture between two major players in the food industry – Smithfield Foods and Maxwell Farms Smithfield was a prominent pork producer and consumer packaged meats company. Maxwell Farms was an affiliate of the Goldsboro Milling Company, a family-owned North Carolina business
Under this 50/50 joint venture agreement, Smithfield and Maxwell Farms shared ownership of Butterball LLC for the next few years. During this time, Butterball continued to grow into one of the largest turkey producers in the U.S., selling over 1 billion pounds of turkey annually.
Maxwell Farms and Seaboard Corporation Take Over
In September 2010 Smithfield announced plans to sell its 50% stake in Butterball. The portion of the company was sold to Seaboard Corporation for an estimated $175 million. Seaboard Corp is a diverse food production and processing company with operations in pork commodity trading, sugar production and marine cargo shipping.
Following Smithfield’s exit, Maxwell Farms also sold 50% of Butterball to Seaboard Corp, giving the two companies equal halves of ownership. This gave Seaboard a new foothold in the poultry segment while allowing Maxwell Farms to continue its long history of involvement with the Butterball operations.
Today: Joint Ownership Between Two Major Corporations
Currently, Butterball turkey is jointly owned by Maxwell Foods, an affiliate of Goldsboro Milling Company, and Seaboard Corporation. Under this structure, Butterball operates as an independent LLC with its own leadership and corporate team. However, the two parent companies both maintain 50% ownership stakes and are involved in guiding the strategic direction of the Butterball business.
So while the brand has changed hands a few times over its 80+ year history, this joint venture model has allowed Butterball to continue delivering quality, affordable turkey products to tables across America. With dedicated leadership and the resources of two successful backers, Butterball appears well-positioned to keep growing for years to come.
Estimated Revenue & Valuation
- Butterball s estimated annual revenue is currently $1.3B per year.(i)
- Butterball s estimated revenue per employee is $ 351,400
- Butterball has 3709 Employees.(i)
- Butterball grew their employee count by 6% last year.
Butterball BREAKS SILENCE on allegations of turkey s*x ab*se
FAQ
What company owns Butterball turkey?
Headquartered in Garner, North Carolina, Butterball LLC is a vertically integrated turkey company owned by Seaboard Corporation and Goldsboro Milling Co.Dec 5, 2024
Why is Butterball turkey so cheap?
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Large production:As a major turkey producer, Butterball can negotiate lower prices with suppliers and benefit from economies of scale, allowing them to sell turkeys at a lower cost per pound.
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Pre-brining:Butterball turkeys are typically pre-brined, which means they are already soaked in a saltwater solution, adding moisture and potentially making them seem like a better value to consumers even if the price is lower.
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Market saturation:Due to their brand recognition, Butterball turkeys are widely available in most grocery stores, which increases their market reach and can lead to lower prices.
Where is the Butterball headquarters?
Butterball headquarters is located in Garner, NC, just outside of Raleigh. Our office is a convenient 30-minute drive from the Raleigh-Durham International Airport (RDU).
How much money is Butterball losing?
… and in its turkey business segment, which represents its investment in Butterball, the company reported a decrease in Butterball’s net income of $95 million …Feb 18, 2025
Who makes Butterball turkeys?
By 1954, Peters was producing dressed whole turkeys under the Butterball brand name, with a focus on broad-breasted birds known for rich flavor. Peters licensed the famous brand to Swift for the first 10 years. Then in the 1960s he sold the full rights to Swift, which was later acquired by the large food corporation ConAgra in 1990.
Who owns Butterball?
Maxwell Farms will sell 50 percent of Butterball to Seaboard Corp. Walter “Gator” Pelletier, past chairman of the National Turkey Federation, is Butterball LLC’s corporate secretary—managing all operating activities from turkey production and directing Maxwell Farms, the managing partner of Butterball.
Does Butterball turkey company own Sweetwater foods?
No, in addition to Butterball, Seaboard Corporation also owns the Daily’s Premium Meats and Sweetwater Foods brands. These brands offer a wide range of pork products. 7. Does Butterball Turkey Company solely focus on turkey products?
Are Butterball turkeys sold internationally?
No, Butterball turkeys and products are distributed internationally, making them available in many countries worldwide. 9. Where are Butterball Turkey Company’s manufacturing facilities located? Butterball Turkey Company operates several manufacturing facilities throughout the United States.
Why did seaboard acquire Butterball turkey company?
Seaboard Corporation saw an opportunity in the turkey market and recognized the value and strong reputation of the Butterball brand. The acquisition allowed Seaboard to enter the turkey industry and benefit from Butterball’s established customer base. 5. Has Butterball Turkey Company always been owned by Seaboard Corporation?
What is Butterball turkey?
Butterball is a brand of turkey and other poultry products produced by Butterball LLC. The company manufactures food products in the United States and internationally—specializing in turkey, cured deli meats, raw roasts and specialty products such as soups and salads, sandwiches, and entrées.