BANGOR, Maine - A national food chain has purchased the Pineland Farms Potato Company in Mars Hill for $115 million.
The Ohio-based national chain has sold its Bob Evans Restaurants division for $565 million and will now concentrate on processed food production.
Mike Townsley, CEO at Bob Evans Foods, says the Maine acquisition will give the brand a new source for its line of mashed and pre-cooked potatoes.
"If you look at the success that we've had over the last 15 years with our refrigerated side dish business, we've had double-digit, year-over-year growth," Townsley says.
Townsley says the company plans to retain the current management team at the Mars Hill plant.