John Morrell buys remaining stake in Premium Pet

AP News
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Posted: Jan 05, 2010 7:52 AM

John Morrell & Co., a subsidiary of fresh pork and packaged meat processor Smithfield Foods Inc., said Tuesday that it has purchased the remaining minority stake in Premium Pet Health LLC that it doesn't already own.

Terms were not disclosed.

John Morrell bought a 49 percent interest in the company and expects the deal to complement its pork processing business and provide a strong return on invested capital.

Premium Pet Health is a protein byproduct processor that supplies many U.S. pet food processors, John Morrell said.