MUSCATINE, Iowa Varied Investments, parent company of Grain Processing Corp., or GPC, Kent Feeds and Precision Foods, has a new name.
The company's new moniker is Muscatine Foods Corp., as was announced Friday by Varied Investments' board of directors at the GPC atrium here.
Board Chairman Terry Kautz said the name change is effective immediately and is more indicative of the company's focus ingredients in food products for humans and animals as well as recognizing the company's home since the 1930s.
"We've actually thought about this for a number of years," he said.
"We're not just an investment company; we want the name to be reflective of what we do. Plus we're very proud of being in Muscatine. This honors our beginnings."
Varied Investments adopted its original name in 1988 as the parent company of corn processor GPC and livestock and pet food maker Kent Feeds. Since then, the company has made additional food-related acquisitions including that of Precision Foods, which manufactures dry-blended foods and seasoning mixes.
As the announcement was being made, new rugs featuring the company's logo two leaves in bold lime and olive green were rolled out and the sign uncovered. The leaves also appear to form the letter "M."
Wearing the appropriate green color, Gage Kent, president of Muscatine Foods Corp., told employees that the company will change in name only and doesn't signify a change in ownership or management structure.
"All our companies are experiencing growth. Part of that success is a result of clarity of mission and focus," Kent said.
Muscatine Mayor Dick O'Brien thanked board members and employees of Varied Investments and welcomed the new name. "Time changes everything, the way we market, the way we dress, the way we do business and, yes, even the Cubs," he said.
"Varied Investments has been a great business partner and I'm sure there will be continued cooperation between the City of Muscatine and Muscatine Foods Corporation."
The name also affects the Kent-Stein Foundation. Its name also has been changed to The Muscatine Foods Corp. Charitable Foundation.
Pam Martz can be contacted at
(563) 263-1783 or Pmartz@machlink.com.