Smithfield Foods Inc. has announced that it has begun the process to acquire Clougherty Packing LLC from Hormel Foods Corp. Through this agreement, which is expected to be complete within a month pending closing conditions and regulatory approvals, Smithfield will add the Farmer John and Saag's Specialty Meats brands to its lineup as well as two processing facilities and three farms to its operations.
"By folding Farmer John into our operations, we are better positioned to take advantage of our long-term strategic growth goals, which includes an increasingly diversified customer and consumer base and greater supply chain efficiency," said Kenneth M. Sullivan, president and CEO of Smithfield Foods. "As we continue this transition and expand our operations, we are proud to welcome these new West Coast employees into our growing Smithfield family."