Source:  Rita Jane Gabbett, MEATINGPLACE.COM, 12/7/10

Shawnee Mission, Kan.-based Seaboard Corporation announced it has completed the acquisition of a 50 percent interest in Butterball, LLC, in partnership with Maxwell Farms, LLC.

Seaboard announced its intention to purchase Butterball in September at a price that analysts estimated at $178 million.

"Butterball is an iconic brand name in the United States, representing superior quality, outstanding value and excellent customer service," said Steve Bresky, Seaboard's president and chief executive officer, in a statement.  "We look forward to our participation with the Butterball management team and Maxwell and bringing additional value to Butterball."

"We are pleased to be partnering with Seaboard and moving forward as the buyer of Butterball, the strongest brand in the turkey industry," said Walter Pelletier, president of Maxwell Farms, LLC.  "Seaboard is a strong, diversified company with a great reputation in the agriculture and food industries, and we are confident the partnership will be mutually beneficial for both companies."

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