Smithfield Foods Inc. announced it has sold its hog production operations in Texhoma, Okla., to Prestage Farms Inc. The terms were not disclosed.
The Texhoma operations house 20,000 sows and contain 71,000 nursery and 172,000 finishing spaces.
"Although vertical integration continues to be a key point of difference for Smithfield, these farms do not supply any of the company’s pork processing plants," CEO C. Larry Pope said in a news release about the sale. "The sale of these operations demonstrates our continuing commitment to shed non-core businesses with a greater focus on return on invested capital."
Source:
MeatingPlace.com, 1/31/2011
By Lisa M. Keefe