There are many factors that make Hanor stand out from other companies.
Hanor’s managing partners had worked together for years. (See "Strategic Partnerships Helped Hanor to Grow")
They were highly talented and they understood, liked and respected each other. They and CFO Stoner, formed a triplet of capable leaders, financially and productively.
By the end of December 2015, Gutknecht retired and owner Kronseder appointed Mortenson to be the sole leader and president of Hanor Farms. Mortenson and Stoner work together to guide the company in all areas.
Through ownership of a Kronseder (owner of the Krones Group) the company had an excellent backup when making large investments such as land and the Triumph plant.
“These are agriculture people who wanted to be involved for the long term and that was important,” Boyd says. “They were extremely good in financial management and sound decision-making.”
“The rise of the Triumph Foods Group has no comparable example in North America,” Boyd says.
“It’s a wonderful collaboration of producers of varying sizes coming together. We think together, as a group, regardless of size.”
In addition, he feels margin extraction has increased beyond expectations, and will likely grow in the future.
Hanor has gone from pig production to integration, and now integration has moved in a modest way to food creation.
“We need to have the courage and wisdom to move into food creation,” Boyd says. He notes that the millennial generation doesn’t want to spend very much time fixing a meal. If food products can be microwaved in four to six minutes to meet their needs, it’s an opportunity for any company. He sees it as a potential market for Hanor, especially with the connections available to the company.
As the company evolves, Boyd sees multiple opportunities. However, he also thinks the company’s success is due to the vision of its founders and leadership of the directors. They have a love for agriculture and understand what it takes to be successful.
“Even though some parts of the world might see us as a corporate business, we see ourselves as a place where we’ve come together, to do what we like in the only way we can. The financial requirements and the overall management is more than a lot of us could bear successfully on our own,” Boyd says.
“Hanor is a family-oriented company,” he adds. “It’s not perfect, it’s not best in all things, but it is extremely good in a lot of things, and we try to be as progressive as we can.
With the addition of a second plant, a new corporate office, significant expansion in sow numbers, and a strategy for future leadership, Hanor is well-positioned for the future.
Read more about Hanor:
- How Hanor Triumphs
- Strategic Partnerships Helped Hanor Grow
- On-Farm Research Guides Production at Hanor
- Hanor Touts Genetic and Animal Management
- What Makes Hanor Different
This article was featured in the September issue of Farm Journal's PORK. Read the full profile by viewing the digital edition. Adapted for web by Sara Brown.