Smithfield Foods Inc., the world's largest hog producer and pork processor, says it has agreed to acquire most assets of the branded meats business of ConAgra Foods Inc. for about $575 million in cash and stock

Food & Drink Weekly, August 7, 2006

Smithfield Foods Inc., the world's largest hog producer and pork processor, says it has agreed to acquire most assets of the branded meats business of ConAgra Foods Inc. for about $575 million in cash and stock. Brands being acquired include Armour, Butterball, Eckrich, Margherita, Longmont and LunchMakers, which are marketed to grocers, delis and restaurants.

The brands have combined sales of about $1.8 billion. ConAgra said it will keep its Hebrew National brand and products, Brown 'N Serve frozen sausages and Slim Jim and Pemmican meat snacks.