Smithfield to sell beef unit to Brazil firm
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From Times Wire Services
Smithfield Foods Inc. said it was selling its beef operations to JBS of Sao Paulo, Brazil, for $565 million. It was the second deal in two days for JBS, which is becoming the largest meat processor in the U.S.
The deal comes a day after National Beef Packing Co. of Kansas City, Mo., the nation’s fourth-largest beef processor, said it was being acquired by JBS in a cash and stock deal worth $560 million.
Smithfield Foods, based in Smithfield, Va., is the fifth-largest U.S. beef producer.
