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Article: American Foods deal falls through
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- December 6, 2001
- Author:
CopyrightCopyright 2001 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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American Foods deal falls through
By TOM DAYKIN
of the Journal Sentinel staff
Thursday, December 6, 2001
The deal to sell Green Bay-based American Foods Group Inc., the
nation's 10th-largest beef processor, to Smithfield Foods Inc. has
collapsed, the two companies announced Wednesday.
As a result, Virginia-based Smithfield, the nation's largest pork
processor, has encountered a setback as it seeks to expand its
nationwide market share of the beef packing business.
"After considerable negotiations, an agreement couldn't be reached
on price," said American Foods spokeswoman Susan Finco. "That's why
the deal fell apart."
Finco said she didn't know if American Foods would seek another
buyer. She ...