OSI International Foods have formed a 50/50 merger with Turi Foods to be Turosi Pty Ltd. in Australia. The chairman of Turi Foods, Sam Cuteri, said their cultures are similar and it will be a world-class food solutions group. The OSI Group will enable Turi Foods to increase the scale of their poultry farming and processing to offer a wider range of products. The plants will continue to be operated in Thomastown, Geelong, and Victoria. Processed products will be manufactured in Blacktown, Eagle Farm, New South Wales, Broadmeadows and other parts of Victoria. Turi Foods is one of the biggest Australian poultry processors. It is family-owned and supplies butcher shops, major supermarkets, roast chicken outlets, quick service restaurants, and specialty chicken retailers.
The OSI Group is privately owned and supplies food solutions to foodservice markets, Asia-Pacific retail outlets, and quick service restaurants. Grant Thorton handled completion accounting, post-deal integration, and tax structures for Turi Foods. The director of OSI, David McDonald, said the two organizations had great reputations with their customers and had a lot of potential to innovate and create new opportunities.
Sheldon Lavin has led the OSI Group to become committed to sustainable food production. It is one of the world’s biggest food producers, owing its’ initial success to McDonald’s chain restaurants. Sheldon has managing the operations since the 1970’s. The OSI Group incorporated new technologies and strategies to become more efficient and decrease its’ harm to the environment. Sheldon and the group have received the British Safety Council’s Globe of Honour, the California Green Business Award, the Global Visionary Award, and the North American Meat Institute’s Environmental Award. Sheldon was made a partner in 1975, and the company changed its’ name to OSI Industries the same year. Sheldon later became the Chairman and CEO. He went on to have full voting control within the company. It has more than 20,000 employees working in over 65 facilities around the world. It was the 58th largest private company according to Forbes. RSM US LLP gave Sheldon the Lifetime Achievement Award in 2015 for his civic involvement.