Leading US hog producer Smithfield Foods has signed letters of intent to acquire two more processed meats producers in a bid to build the value-added segment of its business.
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Elon College, North Carolina-based Stadler’s Country Hams
is a major producer of country hams and Smithfield made a verbal takeover agreement back in August. Stadler’s pioneered the climate-controlled curing process and has recently adopted a curing system popular in Europe.
RMH Foods
is meanwhile based in Morton, Illinois, and produces pre-cooked pork and beef entrees under the Quick-n-Easy™ brand.Terms of the agreements have not yet been disclosed.
With annual sales of US$6bn, Smithfield Foods has experienced tremendous growth during the last 15 years, delivering an average 28% annual compounded rate of return to investors.
The company has already made three similar acquisitions this year.
For more information, visit the Smithfield’s website: http://www.smithfieldfoods.com
To view related research reports, please follow the links below:- The 2000-2005 World Outlook for Pork The 2000-2005 World Outlook for Meat |
