Virginia-based Smithfield Foods is buying Clougherty Packing from Hormel Foods Corp. for $145 million in cash.
Clougherty Packing is the parent company of Farmer John and Saag’s Specialty Meats. The sale also includes PFFJ farm operations in California, Arizona and Wyoming.
Minnesota-based Hormel acquired Clougherty Packing in 2004.
The deal is expected to close in 30 days.
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