Virginia-Based Smithfield Foods Reports Record Earnings. From: Knight Ridder/Tribune Business News | Date: February 26, 1999| Author: Edwards, Greg | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Knight Ridder/Tribune Business News

Feb. 26 -- Riding on the back of low farm prices for hogs, Smithfield Foods Inc. reported record earnings yesterday for the third quarter of its 1999 fiscal year.

Smithfield Foods also announced that it has reached an agreement in principle to buy Carroll's Foods Inc. of Warsaw, N.C., the nation's second-largest hog producer. The acquisition will cost roughly $500 million, consisting of 3.3 million Smithfield Foods shares, ...

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