Smithfield acquires firms 'across the pond'
Feb 9, 2004 12:00 PM, from staff and wire reports
Smithfield Foods Inc, a Smithfield VA-based meat processor and marketer, has completed acquisitions of two complementary meat companies in the United Kingdom: Norwich Food Co Ltd and Ridpath Pek. The newly acquired companies have been combined to form Smithfield Foods Ltd, expected to generate 2004 revenues of US $65 million. Terms of the transaction were not disclosed.
The new operation will provide UK retail and food service customers with fresh meats and further processed chilled and canned meat products developed for that market.
Heading Smithfield Foods Ltd will be John Alton Jones, chief executive officer, who was previously co-managing director of Norwich Foods.
Smithfield previously owned 50% of Ridpath Pek through a joint venture.
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