Muscatine Foods Corporation had its beginning under the name of Kent Feeds, Inc. in 1927 when Mr. G. A. Kent started manufacturing cattle feed in a little mill in Indianola, Iowa. Since that time Kent Feeds has been a leader in the feed industry, introducing many feeds and feed programs for thousands of Midwest livestock producers. In 1936, Mr. Kent moved his enterprise to Muscatine, Iowa, on the banks of the Mississippi River, and built a plant at the current site to take advantage of the economical river transportation. Kent Feeds goes to market through distributors with products produced at 12 other plant sites in the United States. Kent Feeds produces feed for both large and companion animals. A modern 450-acre research farm is utilized in the development of new species feeds, feeding programs and feeding concepts. In 1943, Mr. Kent with Mr. S.G. Stein, a prominent Muscatine businessman, joined together to form Grain Processing Corporation (GPC). With government financing, GPC built a grain alcohol manufacturing plant to supply the synthetic rubber program of World War II. GPC leased the plant from the government with option to purchase, and purchased the plant in 1953. Since 1953, GPC has grown significantly through a broadly diversified line of naturally produced carbohydrate-based products, mainly derived from corn. Several million bushels of corn are processed each year in GPC's vast facilities for wet milling, distillation, and feed production in our facilities. In 1997, we broke ground for a new, state-of-the-art production facility in Washington, Indiana. Through the years other companies have been acquired. In 1983 Evergreen Mills, Inc. was acquired. Evergreen currently has two plants located in Oklahoma and Texas. Evergreen manufactures and distributes a full line of cattle, horse, dairy, swine and specialty feeds which are marketed in Oklahoma, Texas, Arkansas, New Mexico and Louisiana. Blue Seal Feeds, Inc. was formed in 1988 after the business was acquired from the family who had owned and operated the business since 1868. Blue Seal, headquartered in Londonderry, New Hampshire, operates four full line feed mills, four satellite feed mills supplying the dairy industry, and 11 company-owned feed stores featuring products and supplies for pets, wild birds, horses, lawns, and gardens. Blue Seal’s primary market area is the Northeast and Mid-Atlantic United States. Blue Seal also manufactures and distributes pet food products throughout the United States and internationally. Blue Seal enjoys a well-earned reputation for high quality, consistent feed and outstanding customer service. In the early days, the emphasis of the business was on supplying horse feed. The product line has grown to include feeds for dairy cattle, beef cattle, horses, sheep, goats, llamas, pigs, deer, dogs, cats, rabbits, wild birds, caged birds, poultry, herbivore zoo animals, and fish as well as products for the lawn and garden. In 1988 Varied Investments, Inc. was formed as a holding company that owns each of these acquired companies, and also Grain Processing Corporation and Kent Feeds. Our companies are still privately owned, with the third generation of the Kent families holding leadership positions in the management of the corporation. In 2005 the holding company name was changed to Muscatine Foods Corporation to better reflect the businesses focus. In early 1992 Muscatine Foods Corporation acquired Precision Pack Foods (PPF), a custom dry-seasoning blender. PPF specialized in customer seasonings and foods for chain restaurants. In the fall of 1992, Precision Pack Foods merged with Frostline Foods, previously a division of GPC that produced a dry blended, lactose-free frozen desert mix. Those two entities are now known as Precision Foods, Inc. Then in 1995, Dacus Foods was acquired followed by Milani Foods in 1996, Benno Foods in 2004, Alternative Channels in 2006, and Total Ultimate Foods in 2007. PFI is one of the leading manufacturers of dry blended and packaged food products. Precision Foods markets dry mixes ranging from soup, cheese sauces, gravy, rice, stuffing, soft serve ice cream, and breading. While the food service industry accounts for the largest percent of sales, PFI maintains a strong presence in the industrial/contract packaging and retail markets as well. As of January 1996, Precision Foods, Inc. established corporate headquarters in St. Louis, Missouri, and services the entire U.S. market from manufacturing facilities manufacturing facilities in Bolingbrook Illinois, New Sharon, Iowa and Columbus Ohio. In 2007, after three generations of joint ownership by the Kent and Stein/Kautz families, the Kautz family sold their ownership to Muscatine Foods Corporation and Chairman Terry Kautz, grandson of S.G. Stein retired from the company. The Kent Family continues their ownership with the founder’s grandson Gage A. Kent as Chairman of the Board and Chief Executive Officer of Muscatine Foods Corporation. Research, quality control, and product development have led the way in the success of Muscatine Foods Corporation companies. MFC focuses on new approaches and new ideas; the soundness of this philosophy is evidenced by the progress that has been made in both products and production. Our management philosophy of true commitment to quality and long-term customer satisfaction has been the key to growth and success in all our companies.

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