Cargill Inc. has closed a deal to purchase a Smithfield Foods Inc. 21,500-acre hog production facility near Dalhart, Texas. The facility was sold for $33 million, according to the companies.
Cargill's Kansas-based pork division will repopulate the site with breeding sows and make other investments to improve and expand the existing facility, said the company. Smithfield depopulated the facility in August 2009 as part of its herd reduction plan. "The sale of this hog production facility is a further extension of our strategy to reduce exposure to commodity businesses and shed non-core assets," said Larry Pope, Smithfield president and CEO.
The first group of hogs produced at the new facility is expected to be available for slaughter in 2012.
Company making US$96.66 million investment in growth plan
Sen. Chuck Grassley concerned that acquisition will increase concentration and decrease competition in the US pork industry
Smithfield Dry Seasoned Ribs can be prepared in less than two hours
Regulators to be reviewing proposed merger within days
Russia’s ban on imports of pork from selected countries is leading to challenging conditions in the European Union.
Zimbabwe has reported its first outbreaks of African swine fever since 1992, while Uganda, Zambia, Cabo Verde, Chad and Cote d’Ivoire have also had outbreaks since the start of 2015
Transaction is valued at $775 million
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