US hog processing giant Smithfield Foods paid US$35.8m cash and assumed debt for its 80% interest in Stefano Foods Inc, it emerged yesterday [Thursday].

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Smithfield revealed the financial terms of the Charlotte, NC-based Stefano buyout for the first time in a Form 10-Q filed with the Securities and Exchange Commission (SEC). The acquisition was first announced in June.

Stefano Foods manufacturers Italian convenience foods, including calzones and pizzas.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now