Smithfield says would consider buying Oscar Mayer
RICHMOND, VIRGINIA (Reuters) – U.S. meat company Smithfield Foods Inc. (SFD.N: Quote, Profile, Research) would be interested in the Oscar Mayer meat unit of Kraft Foods Inc. if it became available, but the price may be too high, a top Smithfield executive told Reuters on Wednesday.
Talk has circulated that Altria Group Inc. (MO.N: Quote, Profile, Research) may soon spin off Kraft (KFT.N: Quote, Profile, Research) of which it is majority stockholder.
“Oscar Mayer is the only piece of that that we would have any interest in at all,” said Smithfield president and soon- to-be chief executive officer C. Larry Pope. “That’s probably going to go at a price we are not going to like.”