SMITHFIELD, Va. – Smithfield Foods, Inc. announced today that it
completed the sale of substantially all of the assets of RMH Foods, LLC to a
group of investors led by the Rocke family. RMH Foods produces fully cooked
beef, pork, and chicken entrees to retail customers, as well as the deli and
foodservice channels.
At the same time, the company announced that it completed the sale of Maverick
Food Company Limited, its Chinese joint venture, to COFCO Limited, China’s
largest national agricultural trading and processing company. Maverick Food
Company focuses mainly on hot dogs and other sausages, whole and sliced ham,
bacon, Chinese style processed meat, and frozen and convenience food.
“The sale of these assets demonstrates our continuing commitment to shed
non-core businesses with a greater focus on efficiencies and return on invested
capital,” said C. Larry Pope, president and chief executive officer. “These
divestitures are examples of how we have altered our strategy to deliver better
returns to our shareholders,” he continued.
With sales of $12 billion, Smithfield Foods is the leading processor and
marketer of fresh pork and packaged meats in the United States, as well as the
largest producer of hogs. For more information, visit
www.smithfieldfoods.com.
Source:
Smithfield Foods, Inc.