Smithfield Campofrio-Groupe Merger Complete

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Smithfield Campofrio-Groupe Merger Complete

12/17/2008
Smithfield Foods Inc. announces that the merger of Campofrio Alimentacion S.A. and Group Smithfield Holdings S.L. has been finalized. The new company will be known as Campofrio Food Group and will be listed on the Madrid and Barcelona Stock Exchanges.

"This is a major step in Smithfield's strategy to grow and improve its global packaged meats presence. The companies have complimentary manufacturing and marketing platforms, presenting the opportunity for value creation and synergies," says C. Larry Pope, Smithfield Foods president and chief executive officer. "The merger produces the leading player in the European packaged meats market, with leading brands in every market in which we operate," he says.

The merger creates the largest pan-European company in the packaged meats sector and one of the five largest worldwide. The company is the market leader in Spain, France, Portugal and The Netherlands, and maintains a presence in Romania, Germany, the United Kingdom, Italy and Belgium.