Smithfield Foods Completes Acquisition of Pini Group's Packaged Meats Companies
(Thomson Reuters ONE) -
SMITHFIELD, Va., June 01, 2017 (GLOBE NEWSWIRE) -- Today, Smithfield Foods, Inc.
announced the completion of its acquisition of Pini Group's packaged meats
companies in Poland. These companies will be operated by Animex Foods, one of
the largest food producers in Poland and part of Smithfield Poland, which is
owned by Smithfield Foods. The acquisition includes Pini Polska, a meat
processing and packaging plant; Hamburger Pini, a case ready meat plant; and
Royal Chicken, an investment project currently in development.
"This acquisition aligns with Smithfield's strategic growth plans by
strengthening our vertically-integrated supply chain in Poland and increasing
our production of high-quality packaged meats products. It also capitalizes on
existing opportunities for us to expand in areas with very attractive market
dynamics and to develop scale over time," said Kenneth M. Sullivan, president
and chief executive officer of Smithfield Foods. "This is a win-win for
Smithfield, as well as Poland's agricultural industry. This move will help the
Polish meat industry become more competitive across European and international
markets."
Smithfield Poland will now employ nearly 9,240 people, including approximately
240 former Pini employees, which will solidify the company's position as the
largest employer in the Polish food industry.
The closing followed approval from the Office of Competition and Consumer
Protection (UOKiK) in Poland and completion of due diligence. As per the
agreement, transaction details such as purchase price and terms will not be
disclosed.
About Smithfield Poland
Smithfield Poland operates Polish food companies including Animex Foods, Agri
Plus and Agri Plus Feed. Employing 9,000 people and working with more than
2,300 hog farmers, Smithfield Poland controls the entire food production process
"from farm to fork." Smithfield Poland is owned by Smithfield Foods, Inc., which
is a subsidiary of WH Group, a Hong Kong-based and publicly traded company with
shareholders around the world.
About Smithfield Foods
Smithfield Foods is a $15 billion global food company and the world's largest
pork processor and hog producer. In the United States, the company is also the
leader in numerous packaged meats categories with popular brands including
Smithfield((R)), Eckrich((R)), Nathan's Famous((R)), Farmland((R)), Armour((R)),
John Morrell((R)), Cook's((R)), Kretschmar((R)), Gwaltney((R)), Curly's((R)),
Margherita((R)), Carando((R)), Healthy Ones((R)), Krakus((R)), Morliny((R)) and
Berlinki((R)). Smithfield Foods is committed to providing good food in a
responsible way and maintains robust animal care, community involvement,
employee safety, environmental and food safety and quality programs. For more
information, visit www.smithfieldfoods.com.
Contact:
Keira Lombardo
Smithfield Foods, Inc.
(757) 365-3050
klombardo(at)smithfield.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Smithfield Foods, Inc. via GlobeNewswire
Datum: 01.06.2017 - 14:00 Uhr
Sprache: Deutsch
News-ID 545833
Anzahl Zeichen: 3635
contact information:
Town:
Smithfield
Kategorie:
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