US meat processor Smithfield Foods today [Monday] announced that it has completed the acquisition of two complementary meat companies in the UK, the Norwich Food Company Ltd. and Ridpath Pek.
The newly acquired companies have been combined to form Smithfield Foods Ltd., expected to generate 2004 revenues of US$65m. Terms of the transaction were not disclosed.
Smithfield Foods Ltd. will provide retail and foodservice customers with a full line of fresh meats and further processed chilled and canned meat products developed for the UK market, the company said in a press release.
Robert A. Sharpe II, president, international operations, commented: “Norwich and Ridpath Pek are nearly perfectly complementary to each other, with virtually no overlap in products or customers, which creates attractive opportunities for providing our customers with a full range of high quality meat products. Moreover, Smithfield Foods Ltd. will gain a dedicated supply relationship from Smithfield’s Polish subsidiary, Animex, and its French subsidiary, SBS, assuring Smithfield Food Ltd.’s customers of consistent quality.”
Smithfield Foods Ltd. will be led by John Alton Jones, chief executive officer, who was previously co-managing director of Norwich Foods.
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