Smithfield Foods, Inc. (NYSE: SFD) yesterday announced plans to add two new names to the list of processed meats producers the company has acquired this year to build the value-added segment of its business.
Smithfield Foods said that it had signed letters of intent to acquire Stadler’s Country Hams, Inc. and RMH Foods, Inc. The company has made three similar acquisitions this year.
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Stadler’s is a major producer of country hams. Based in Elon College, North Carolina, Stadler’s was a pioneer in the climate-controlled curing process and recently adopted a European-style curing system. RMH Foods, based in Morton, Illinois, specializes in pre-cooked pork and beef entrees under the Quick-n-Easy(TM) brand.
Terms of the agreements were not disclosed.
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By GlobalDataSmithfield Foods has delivered a 28 percent average annual compounded rate of return to investors since 1975. In the last 15 years, the company’s share price has outperformed the S&P 500 Index by more than 350 percent. With annual sales of $6 billion, Smithfield Foods is the leading processor and marketer of fresh pork and processed meats in the United States, as well as the largest producer of hogs. For more information, please visit http://www.smithfieldfoods.com .
This news release may contain “forward-looking” information within the meaning of the federal securities laws. The forward-looking information may include statements concerning the Company’s outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. These risks and uncertainties include availability and prices of live hogs, raw materials and supplies, live hog production costs, product pricing, the competitive environment and related market conditions, operating efficiencies, access to capital, the cost of compliance with environmental and health standards, adverse results from ongoing litigation and actions of domestic and foreign governments.
To view related research reports, please follow the links below:- The 2000-2005 World Outlook for Pork The 2000-2005 World Outlook for Meat |
