Fitch also views completion of the deal as probable, despite political concerns around foreign-ownership of U.S. food assets and potential negative implications for U.S. consumers.
The Smithfield Packing Company Inc. plans to shift bone-in ham production from its Landover, Maryland, plant to its facilities in North Carolina and Kentucky.
Smithfield Foods moved up eight positions from its 10th-place ranking in 2012, reflecting its continued progress as a sustainability leader in the global packaged meats space.
Smithfield Foods Inc. reported strong fiscal 2013 third quarter results, driven by growth in packaged meats and solid contributions from international operations.
At the end of 2012 it had successfully transitioned 38% of pregnant sows on its company-owned farms in the United States from individual gestation stalls to group housing systems.
Smithfield Foods Inc. announced that it will begin its previously announced shutdown of its Portsmouth, Va., facility that makes hot dogs and deli meat.
