Food Industry
Industry: Email Alert RSS FeedSmithfield places winning bid for Farmland Foods
Nation's Restaurant News, Oct 27, 2003
SMITHFIELD, VA. -- Smithfield Foods Inc. won the bidding auction to acquire nearly all of the assets of Farmland Foods, the production and processing arm of Farmland Industries Inc. The purchase was valued at $367.4 million in cash plus the assumption of some Farmland liabilities. The auction took place at Farm and s headquarters Oct. 12 in Kansas City, Mo.
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Farmland Foods will remain a stand-alone business operated by current management, including George Richter, who will continue to hold the posts of president and chief operating officer.
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