Smithfield completes ConAgra meat deal
Smithfield Foods has completed the $571 million purchase of most assets of the branded meat business of ConAgra Foods.
The deal, announced at the end of July, stipulated that Smithfield would pay $575 million for the brands, but the two parties decided on a cash-only contract for $571 million.
In the deal brands like Armour, Butterball, Eckrich, Margherita, Longmont and LunchMakers are included.
It is not the only acquisition Smithfield is dealing with at the moment. In addition, the world’s largest pork processor also announced plans to acquire Premium Standard Farms, the US’s second largest pork producer.