Smithfield Foods reduces hog footprint in deal with Murphy Family Ventures
The deal will further reduce the number of hogs owned by Smithfield as it prepares for a U.S. listing. Murphy will become one of the largest independent pork producers in the U.S., with the capacity to produce approximately 3.2 million hogs annually for Smithfield's fresh pork operation, Smithfield said in a statement. Murphy will assume ownership of 150,000 sows — and the market hogs they produce — that are currently owned by Smithfield, while Smithfield will provide production, feed and transportation services, the statement said.