Smithfield Foods, Inc.
Smithfield Foods Completes Acquisition of Pini Group's Packaged Meats Companies
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 .
Smithfield Foods, Inc.
Information om Globenewswire
Følg pressemeddelelser fra Globenewswire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Globenewswire
Mash Group Oyj22.6.2018 12:37 | pressemeddelelse
Mash named as one of the Fintech 50
Graduate Management Admission Council22.6.2018 06:02 | pressemeddelelse
GMAC Launches 'Study in China' Initiative in Partnership with 11 Leading Business Schools in China
Shyft Network21.6.2018 20:20 | pressemeddelelse
Shyft Unveils Board of Advisors Comprised of Top Crypto, Industry, and Regulatory Leaders United to Redefine Identity, Regulatory Compliance and Privacy For All
VITEC21.6.2018 19:02 | pressemeddelelse
United Shore Selects VITEC's EZ TV IPTV & Digital Signage Platform for New Headquarters
SEMAFO Inc.21.6.2018 17:25 | pressemeddelelse
SEMAFO Announces Retirement of VP, Exploration & Mine Geology; Announces Geology Team Succession
Bombardier Transportation20.6.2018 11:54 | pressemeddelelse
Bombardier's Chinese Joint Venture Wins Contract to Provide an INNOVIA Automated People Mover System to Shenzhen Airport
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum