November 14, 2017
Original Philly Holdings, the local manufacturer of steak products that have helped popularize the Philly cheesesteak, has been acquired by American multinational firm Tyson Foods, the companies announced on Tuesday.
Formed out of a converted garage in Roxborough in 1981, Original Philly Holdings has two business units. Original Philly Cheesesteak Company manufactures raw Philly Style sandwich steak products and Philadelphia Pre-Cooked Steak Company makes fully-cooked Philly-style sandwich steak products.
The company, which operates two plants in Philadelphia, employs approximately 250 people. Its customers include food service, retail and convenience store providers.
“We’re excited to be part of the Tyson Foods family, which will allow us to build on the legacy of our business,” said John Karamatsoukas, president and CEO of Original Philly Holdings. “Tyson Foods is a leader in the food industry and has a strong reputation for successfully acquiring and growing family-owned businesses like ours. With deep appreciation for our customers, employees, and vendors’ contributions to Original Philly’s success, I remain confident that Tyson Foods will honor and operate the business in a manner consistent with the values we embrace.”
Both companies have formed integration teams to maintain the quality of operations and customer service during the transition.
“Original Philly Holdings is a natural, strategic fit with our Prepared Foods Business,” added Tyson Foods Prepared Foods Group President Sally Grimes. “The Original Philly brand and portfolio of products are highly regarded in the foodservice industry and have a growing list of customer relationships with chain and convenience store operators. We look forward to combining our commercial and operational resources with Original Philly Holdings’ capabilities to offer new solutions to customers and consumers, expand distribution, and continue the growth and legacy of the business."