Smithfield Foods Completes U.K. Purchases

SMITHFIELD - Feb 10/04 - SNS -- Smithfield Foods, Inc. completed its purchase of the United Kingdom's Norwich Food Company Ltd. and Ridpath Pek, combing them to form Smithfield Foods Ltd.

The new venture is expected to generate sales of U.S. $65 million in its first year, by supplying fresh, chilled and canned meats to retail and food service customers in the U.K.

"The establishment of Smithfield Foods Ltd. continues our strategy of participating in attractive markets through dedicated, resident companies with strong, local management and the resources to be successful," stated Robert A. Sharpe II, president, international operations.

"Norwich and Ridpath Pek are nearly perfectly complementary to each other, with virtually no overlap in products or customers, which creates attractive opportunities for providing our customers with a full range of high quality meat products. Moreover, Smithfield Foods Ltd. will gain a dedicated supply relationship from Smithfield's Polish subsidiary, Animex, and its French subsidiary, SBS, assuring Smithfield Food Ltd.'s customers of consistent quality," Sharpe concluded.

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