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].

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.