March 6, 2008 |
Smithfield Foods Inc. said it was selling its beef operations to JBS of Sao Paulo, Brazil, for $565 million. It was the second deal in two days for JBS, which is becoming the largest meat processor in the U.S. The deal comes a day after National Beef Packing Co. of Kansas City, Mo., the nation's fourth-largest beef processor, said it was being acquired by JBS in a cash and stock deal worth $560 million. Smithfield Foods, based in Smithfield, Va., is the fifth-largest U.S. beef producer.
August 1, 2006 |
Smithfield Foods Inc., the largest global pork processor, said it 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 sales of about $1.8 billion.
February 18, 2009 |
Smithfield Foods Inc. said it planned to cut 1,800 jobs and close six factories as part of a restructuring that comes amid an overall slump in the meat industry. The company plans to combine seven of its independent operating companies into three main units and close plants in six cities, including one in its hometown of Smithfield, Va., by December. The meat industry is slumping as companies such as Smithfield recover from volatile energy and commodity costs that reached record highs over the summer.
February 13, 2012 |
McDonald's Corp. says it wants its pork suppliers to start treating pregnant pigs better. The fast-food giant said Monday that it is requiring suppliers to provide plans by May to phase out stalls like the one in the photo above that restrict the movement of pregnant pigs. It made the announcement in a joint statement with the Humane Society of the United States. "There are alternatives that we think are better for sows," said Dan Gorsky, senior vice president of the company's North America Supply Chain Management.
June 17, 2013 |
Fast casual chain Noodles & Co. expects its initial public offering to price at $13 to $15 a share, the company said in a regulatory filing Monday. The Broomfield, Colo., business said it expects $67.1 million in proceeds if shares are priced in the middle of the range at $14 a share. If underwriters choose to purchase additional shares, Noodles & Co. could raise $77.5 million, it said. The company is offering nearly 5.4 million shares of Class A common stock, it said in a document filed with the Securities and Exchange Commission.
June 27, 2013 |
Paula Deen awoke to more bad news Thursday: Target and a Danish pharmaceutical company are curtailing their financial relationships with the celebrity cook. Target Corp. said Thursday it will phase out its Paula Deen-branded cookware and other items, according to the Associated Press: "Once the merchandise is sold out, we will not be replenishing inventory," Target spokeswoman Molly Snyder said. Meanwhile, a statement released Thursday morning by a Danish pharmaceutical company that markets medication for Type 2 diabetes said: "Novo Nordisk and Paula Deen have mutually agreed to suspend our patient education activities for now, while she takes time to focus her attention where it is needed.