US meat processor Smithfield Foods has announced that it has purchased an additional 3,787,265 shares of Campofrio Alimentacion, for approximately US$49m, increasing its stake in the Spanish pork processor to 22.4% from 15.2%.
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Smithfield said it acquired the additional shares recently in two privately-negotiated transactions.
Campofrio is the largest meat processor in Spain and one of Europe’s largest diversified meat processors, with annual sales of about €1bn (US$1.2bn). Campofrio also has operations in France, Poland, Portugal, Romania and Russia, and exports to over 40 countries.
