Smithfield plans to acquire ham business
Jan 27, 2006 9:00 AM, from staff and wire reports
Smithfield Foods Inc has signed a definitive agreement to acquire substantially all of the assets of the Cook’s ham business of ConAgra Foods Packaged Foods Co Inc from ConAgra Foods Inc.
Based in Lincoln NE, Cook's produces traditional and spiral sliced smoked bone-in hams, corned beef, and other smoked meat items sold to supermarket chains and independent grocers in the United States and Canada. Manufacturing facilities are in Lincoln, as well as Grayson KY and Kansas City MO. The company’s annual sales are about $330 million.
The transaction is subject to Hart-Scott-Rodino antitrust clearance and other customary closing conditions. Smithfield expects to complete the transaction during its fiscal fourth quarter that ends April 30, 2006.
