SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) OCTOBER 6, 1995
Commission file number 0-2258
SMITHFIELD FOODS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of Incorporation)
0-2258 52-0845861
(Commission File Number) (I.R.S. Employer
Identification No.)
501 North Church Street Smithfield, Virginia 23430
(Address of principal executive offices)
Registrant's telephone number, including area code (804) 357-4321
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Item 5. Other Events.
Smithfield Foods, Inc. (NASDAQ: SFDS) has announced that it has signed a
letter of intent to acquire all of the common stock of John Morrell & Co. from
Chiquita Brands International, Inc. (NYSE: CQB). The consideration will consist
of a combination of $25 million in cash and Smithfield Foods common stock worth
$33 million (based on average trading prices during the 30 days prior to
closing). Upon closing, Smithfield Foods will assume all of the assets,
liabilities and obligations of John Morrell. The parties intend to close the
transaction by December 31, 1995. The transaction is subject to the completion
of a definitive purchase agreement containing various conditions to the sale and
to the receipt of all necessary governmental and regulatory approvals.
John Morrell & Co. is a large fresh pork and processed meats processor
located in the Midwest, with plants in Sioux Falls, South Dakota, Sioux City,
Iowa, Great Bend, Kansas, Cincinnati, Ohio and Chicago, Illinois. John Morrell
slaughters approximately 30,000 hogs a day and markets a wide variety of branded
processed meats under brand names that include John Morrell, Dinner Bell,
Kretschmar, Rath Black Hawk, Tobin's First, Peyton's and Rodeo. John Morrell had
fiscal 1994 sales of $1.4 billion.
Smithfield Foods, Inc. is a leading hog producer, pork processor and fresh
pork and processed meat marketer with significant market presence in the
Mid-Atlantic and Southeast and increasing market positions in other regions of
the country. The Company's brands include Smithfield, Smithfield Lean
Generation Pork, Gwaltney, Patrick Cudahy, Luter's, Esskay, Hamilton's,
Valleydale, Mash's, Jamestown, Realean, Patrick's Pride, Great and others.
Smithfield Foods had sales of $1.5 billion for the fiscal year ended April 30,
1995.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SMITHFIELD FOODS, INC.
/s/ Aaron D. Trub
Aaron D. Trub
Vice President, Secretary and
Treasurer
Date: October 10, 1995
