Smithfield, VA - Smithfield Foods, Inc. announced that it has entered into an agreement in principle to acquire all of the outstanding stock of North Side Foods Corp., a leading producer of precooked pork products in North America.
North Side, headquartered in Arnold, Pennsylvania, has a 24-year relationship with McDonald's Corporation and today is a major domestic supplier of precooked sausage to that company. In addition, through its Ember Farms brand, the company is also a supplier to other national restaurant chains such as Perkins and Friendly's.
"Consistent with the Company's practice to permit its operating subsidiaries to operate with a great deal of independence, North Side will operate as an autonomous unit of Smithfield Foods," said Joseph W. Luter, III, chairman and chief executive officer.
The acquisition is subject to regulatory agency approvals and the execution of a definitive purchase agreement. The transaction is expected to close before Labor Day.
Meat Industry Insights News Service
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