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Smithfield sells RMH, Maverick Foods
Updated: Monday, 04 Jan 2010, 9:22 AM EST
Published : Monday, 04 Jan 2010, 9:22 AM EST
SMITHFIELD, Va. (AP) - Smithfield Foods Inc. has sold two companies as part of its plan to divest non-core businesses.
The nation's largest hog producer and processor announced Monday that it has completed the sales of RMH Foods LLC and Maverick Food Company Limited.
Smithfield says a group of investors led by the Rocke family acquired RMH Foods.
Maverick Food is Smithfield's Chinese joint venture. Smithfield says Maverick Food was sold to COFCO Limited, China's largest national agricultural trading and processing company.
Smithfield President and CEO C. Larry Pope says the sales demonstrate the company's commitment to shed its non-core businesses.
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