Source: Michael Fielding, MEATINGPLACE, 12/23/13


Mexican food company Sigma Alimentos and Shuanghui International Holdings Ltd. have signed an agreement to share control of Spanish-owned meat processor Campofrio Food Group.

The two companies currently own approximately 82 percent of Campofrio’s outstanding shares — Shuanghui with approximately 37 percent and Sigma with approximately 44 percent — the companies said in a joint statement.

China's largest meat processor, Shuanghui International Holdings Ltd. became Campofrio's largest shareholder with a 37 percent stake when it acquired Virginia-based Smithfield Foods Inc. in September.
In a series of purchases from Nov. 13 to Nov. 27, Sigma acquired approximately 45 percent of the outstanding share capital of Campofrio.

“We are very excited our company has joined forces with such a prestigious company as Shuanghui International," Armando Garza Sada, ALFA’s chairman, said in a news release. "The combination of Campofrio’s top management led by Pedro Ballvé, strong brands and European footprint, Shuanghui International’s global reach and extensive experience in the industry, along with Sigma’s capabilities in terms of marketing and product development will result in value creation beyond what we could achieve independently.”

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