John Morrell & Co., a subsidiary of Smithfield Foods buys Premium Pet Health
John Morrell & Co., a subsidiary of Smithfield Foods buys Premium Pet Health
John Morrell & Co., a subsidiary of Smithfield Foods Inc., announced Tuesday that it had become sole owner of Premium Pet Health LLC. John Morrell, a Cincinnati-based producer of processed meat and fresh pork, had a 51 percent interest in Premium, a Sioux City, Iowa-based supplier for pet-food processors. Details were not disclosed.
"As we continue to focus on our core businesses, it is logical for us to invest in a company that is synergistic to our fresh pork processing business and also has a superior return on invested capital," said Smithfield's president and CEO, C. Larry Pope, in a statement.
On Monday, Smithfield announced it had sold two of its companies - RMH Foods LLC and Maverick Food Co. Ltd.
