Nov 21 Smithfield Foods said it would buy Farmer
John and Saag's Specialty Meats brands, and farm operations in
three U.S. states from Hormel Foods Corp for $145
million in cash.
Smithfield will buy Clougherty Packing, the owner of Farmer
John and Saag's, as well as hog farm operations in California,
Arizona and Wyoming, expanding its supply chain in the United
Smithfield, a unit of WH Group Ltd, is the world's
largest pork processor and hog producer.
"While the businesses have performed well, they no longer
align with our company's growth strategies," Hormel Chief
Executive Jim Snee said in a statement on Monday.
(Reporting by Jessica Kuruthukulangara in Bengaluru)