Groupe Smithfield, Campofrio in merger talks
June 25, 2008
by FoodBusinessNews.net Staff
SMITHFIELD, VA. — Smithfield Foods, Inc. has announced Groupe Smithfield Holdings S.L. — a joint venture with investment funds controlled by Oaktree Capital Management L.L.C. — is in merger talks with Campofrio Alimentacion S.A.
Campofrio is the largest processed meats company in Spain. If the merger takes place, Campofrio would issue shares to Smithfield and Oaktree in exchange for all of the member interests in Group Smithfield.
Smithfield currently owns 24% of Campofrio and would own 36% of the combined company after such a merger.