smithfield food Our Family of Companies 2007

TABLE OF CONTENTS

EXECUTIVE MESSAGE 2
PERFORMANCE CHARTS 4
SMITHFIELD UP CLOSE 7
OUR FAMILY OF COMPANIES 23
FINANCIALS 46
MANAGEMENT BOARD, CORPORATE OFFICERS, DIRECTORS 49
CORPORATE INFORMATION 50

FINANCIAL HIGHLIGHTS

Fiscal Years Ended (in millions, except per share data) April 29, 2007 April 30, 2006 May 1, 2005

Sales $ 11,911.1 $ 11,403.6 $ 11,248.4
Income from continuing operations 188.4 185.2 300.7
Net income 166.8 172.7 296.2
Income from continuing operations per diluted share 1.68 1.65 2.68
Net income per diluted share 1.49 1.54 2.64
Weighted average diluted shares outstanding 111.9 112.0 112.3

Additional Information

Capital expenditures $ 477.7 $ 381.6 $ 193.2
Depreciation expense 219.3 200.1 187.0
Working capital 1,372.5 1,161.3 1,421.2
1
Total debt 3,092.9 2,558.3 2,274.7
Shareholders’ equity 2,240.8 2,028.2 1,901.4
2
Total debt to total capitalization 58.0% 55.8% 54.5%

1 Total debt is equal to notes payable and long-term debt and capital lease obligations including current portion.
2 Computed using total debt divided by total debt and shareholders’ equity.

With sales approaching $12 billion in fiscal 2007, Smithfield Foods is
the world’s #1 hog producer and #1 pork processor.
In the United States, our market shares also make us the…

#1 turkey processor #1 spiral hams producer
#1 cattle feeder #1 smoked pork chops producer
#1 bacon producer #1 poultry hot dogs producer
#1 smoked ham producer #1 deli salami producer

A LEADER IN BRANDED PACKAGED MEATS

Smithfield Foods packaged meats are among the most trusted and sought-after. From national brands and regional
powerhouses in the United States to some of the best-known European brands, here are just a few that are prized by retail,
foodservice, and deli customers alike.

Æ

MAP OF OPERATIONS

Smithfield Foods now has operations in 13 countries
through wholly owned subsidiaries and joint ventures.

UNITED STATES

MEXICO

BELGIUM
FRANCE
GERMANY
ITALY
POLAND
PORTUGAL
ROMANIA
SPAIN
THE NETHERLANDS
UNITED KINGDOM

Wholly owned Smithfield
Foods operations as well as the
Butterball, LLC, and Five Rivers
Ranch Cattle Feeding LLC joint
ventures in the United States.
CHINA
Our presence in these countries
is through a 50% ownership
stake in Groupe Smithfield.

Smithfield owns a 23% stake in
Campofrio.

Our presence in China and
Mexico is through a 50%
ownership stake in joint ventures.

EXECUTIVE MESSAGE

To Our Stakeholders:

Smithfield Foods reported income from continuing operations for fiscal 2007 of $188.4 million, or $1.68 per diluted
share, versus $185.2 million, or $1.65 per diluted share, last year. Sales were $11.9 billion, compared to $11.4 billion
in the prior year. Considering the negative impact of increased grain prices on all of our live production operations,
I am very pleased with the results, particularly in the international and pork segments.

In fiscal 2007, Smithfield broadened and strengthened its base through acquisitions that were immediately accretive
to earnings. We are reshaping the company through integrating these acquisitions and executing a strategy to
realign and rationalize our manufacturing capacities.

o Through a 50/50 joint venture with Oaktree Capital Management, we acquired Sara Lee’s European Meats
business. This is a strong, branded $1.5 billion business with large positions in France, Portugal, the
Netherlands, and Germany. We have merged our Groupe Jean Caby assets with the acquired French
operations, and the new company, Groupe Smithfield, is the largest packaged meats producer in Europe.

o In acquiring the branded meats business of ConAgra Foods, Inc., we increased the volume of our core
packaged meats operations in the United States by 20 percent. This is a $1 billion business with
well-known brands such as Armour and Eckrich, with large shares in key product categories such as
precooked bacon, smoked sausage, and dry sausage.

o We acquired ConAgra’s Butterball turkey business through a 49-percent-owned joint venture with
Maxwell Farms. The combination of Butterball and Carolina Turkeys, owned by the joint venture, was
renamed Butterball, LLC, and is now the largest U.S. turkey producer, with sales of more than $1 billion.

o A week after the closing of fiscal year 2007, we completed the acquisition of Premium Standard Farms,
a vertically integrated provider of pork products. This enabled Smithfield to capitalize on our vertically
integrated model and expand our share in hog production to 17 percent from 14 percent. The merger
increased our share in pork processing to 31 percent from 26 percent.

Europe represents significant potential for Smithfield, and we continue our focus on building a solid pan-European
business. The Sara Lee European Meats acquisition has provided the vehicle to pursue broad, branded distribution
in Western Europe. Simultaneously, our long-term strategy is to build vertically integrated and low-cost production
in Eastern Europe.

In Poland, we have become the largest hog producer and pork processor and will use vertical integration to expand
the business. After years of investment, we have achieved solid profitability.

In total, we plan to invest up to $1 billion in Romania by 2010 through company-owned and contract grower
agreements to revitalize the pork industry and develop a fully-integrated business model and infrastructure.

2

This year, we successfully reopened a mothballed pork
processing plant that we acquired, and we will continue to
ramp up production there.

Domestically, Smithfield continues to evaluate manufacturing
operations to drive out significant costs and become a low-cost,
highly efficient producer. We plan additional changes to realign
capacity while we maintain our focus on utilizing our raw
materials internally and eliminating low-margin business. Our
strategy is to invest in new technology and processes to enable
our packaged meats business to become a much stronger
component of our profits.

This year our commitment to corporate social responsibility remained an integral component of our business
strategy. Consequently, Fortune prominently ranked Smithfield on its annual list of America’s Most Admired
Companies for the fifth consecutive year and ranked our company first among beef and pork producers.

USA Today recently listed the top-performing stocks over the past 25 years, and it was gratifying to see Smithfield
listed as number 21, just behind Berkshire Hathaway, with a stock appreciation of 19,414 percent. As always, we
thank our employees, customers, and suppliers for making this possible.

Paul J. Fribourg, chairman, president, and chief executive officer of ContiGroup Companies, Inc., which owned
39 percent of Premium Standard Farms’ shares, has been elected a member of Smithfield’s board of directors.
In addition, Michael J. Zimmerman, executive vice president and chief financial officer of ContiGroup, has been
appointed an advisory director. They will be valuable additions to the board.

Looking forward, in spite of the anticipated increase in grain costs, I am very optimistic about the future. Grain
prices, as well as increases in freight and energy costs, are impacting our operations. However, we are focusing on
realigning our product mix and directing our efforts in packaged meats toward our strong regional brands, as well
as driving out inefficiencies. All of this bodes well for Smithfield Foods.

C. Larry Pope
President and Chief Executive Officer

June 15, 2007

3

REAPING THE BENEFITS OF VERTICAL INTEGRATION

Smithfield Foods embarked on a vertical integration strategy in 1987 but ramped up the effort
significantly in 1999. Our participation in both hog production and pork processing has provided a steady
supply of high-quality raw materials. It has also resulted in more consistent earnings and cash flow.

operating profit
in millions price per cwt

$700 $60.00
$54.04

$600
$47.74 $50.00
$46.15
$500
$480.9
$330.0
$41.67 $41.68
$211.4
$400 $40.00
$32.94
$266.6
$300
$125.7
$30.00
$200
$213.1
$166.8
$153.0 $228.0
$178.1
$148.0
$100 $20.00

$0
$10.00
$-108.4
$-100

$-200 $0.00
FY2002 FY2007
FY2003 FY2004 FY2005 FY2006

Pork Processing Operating Profit
Average Live Hog Market Price
Hog Production Operating Profit

4

INCREASING OUR FOCUS ON CONVENIENCE PRODUCTS

Although traditional products still account for most of our LBS MM

3,000
pork segment’s packaged meats volume, sales of higher-
964.9
2,250 760.1
margin convenience items have grown significantly. 691.3
582.2 1,888.4
1,626.7
1,500
1,433.4
1,590.0
750

0
FY2004 FY2005 FY2006 FY2007

Pork Segment - Packaged Meats Volume
Convenience
Traditional

LBS MM
Volume of traditional products increased by 455 million
1000
pounds over the past three years, while volume of convenience
382.7
750
items grew by 383 million pounds over the same period.
500
455.0
177.9
250 109.1
193.3
156.6
0
FY2005 FY2006 FY2007
vs FY2004 vs FY2004 vs FY2004

Pork Segment - Packaged Meats Volume Growth
Convenience
Traditional

This means that the volume of convenience products 30%

26.9
has grown at a consistently higher rate than that of 24%

18%
traditional products. 18.7
16.1
12%
10.9 10.0
6%

2.3
0
FY2005 FY2006 FY2007
vs FY2004 vs FY2005 vs FY2006

Pork Segment - Annual Volume Growth Rate [% Change]
Convenience
Traditional

5

PENETRATING U.S. REGIONAL PACKAGED MEATS MARKETS

Bacon CENTRAL
Lb. Share – 24%
Rank #1
Distribution – 100%

NORTHEAST
Lb. Share – 13%
Rank #2

SOUTH
WEST Lb. Share – 23%
Rank #1
Lb. Share – 10%
Rank #4

Smoked Meats CENTRAL
Lb. Share – 55%
Rank #1

NORTHEAST
Lb. Share – 54%
Rank #1

SOUTH
WEST Lb. Share – 55%
Rank #1
Lb. Share – 32%
Rank #1

Bacon Source: Nielsen Co. Avg acv 52 W/E 4/21/07 Smoked Meats Source: Fresh Look Marketing Avg distribution 52 W/E 4/29/07

6

SMITHFIELD UP CLOSE
From the acquisition of several leading U.S. brands to our
European expansion, we have continued to build upon the
leadership position Smithfield Foods enjoys in many areas
of our industry. In this section, we highlight our purchase of
the Butterball turkey brand, our growing opportunities in
packaged meats, our marketing partnership with celebrity cook
Paula Deen, and other key developments of the past year.

GROUPE SMITHFIELD JOINT VENTURE
EUROPE’S LARGEST IN PACKAGED MEATS

No stranger to the European market, Smithfield Foods upped the
ante considerably this past year. Building on existing positions
in France, Poland, and Romania, Smithfield teamed with Oaktree
Capital Management to acquire Sara Lee’s European Meats
business in August 2006. The 50/50 joint venture—Groupe
Smithfield, S.L.—also includes Smithfield’s established Group Jean
Caby subsidiary. With annual sales of $1.9 billion and 6,650
employees, Groupe Smithfield has emerged as Europe’s largest
packaged meats company.

Like other recent acquisitions made in the United States, the
Groupe Smithfield deal has allowed Smithfield Foods to add more
higher-margin, branded offerings to the company’s product mix.
The acquired brands are among the best known in Western Europe,
including France’s Aoste and Justin Bridou, The Netherlands’
Stegeman, and Portugal’s Nobre. A total of 25 plants produce dry
sausage, dry ham, cooked ham, cooked sausage, and a long list of
other products.

From its new headquarters in Paris, the Groupe Smithfield team
has been busy this past year integrating the company’s Jean Caby
and Groupe Aoste French operations and optimizing their
combined manufacturing platform. New products on the way
include a broader variety of low-salt and low-fat meats under the
Weight Watchers label. Finishing the year significantly ahead of its
original sales plan, the company has increased its targets for 2008.

Walk into the Boucherie Duret Dupont in Paris, and it’s a good bet that Monsieur Dupont will have a large
ABOUT THIS PHOTO
assortment of Aoste hams and other Aoste products on hand for customers who appreciate high-quality
meats. The Aoste brand originated in France, but it is also Groupe Smithfield’s leading brand in Belgium
and Germany.

9

RECENT ACQUISITIONS ADD STRENGTH
TO U.S. PACKAGED MEATS OFFERINGS

For supermarket shoppers in the Midwest, the Eckrich brand is
nearly synonymous with smoked sausages and breakfast links. The
market leader in nine states, its heritage dates back to 1894. It’s
also one of the latest additions to Smithfield Foods’ rapidly growing
packaged meats offerings. In October 2006, Smithfield acquired
Eckrich as well as the Armour, Margherita, and LunchMakers
brands from ConAgra Foods. Now operating under the banner of
Armour-Eckrich Meats LLC, the Naperville, Illinois-based company
boasts annual sales exceeding $1 billion. Precooked and other
convenience items account for approximately 90 percent of sales.

The acquisition supports Smithfield’s strategy of utilizing raw
materials internally and migrating to higher-margin, further-
processed products. For example, Smithfield acquired the Cook’s
ham business from ConAgra earlier in 2006. With annual sales of
approximately $330 million, Cook’s produces traditional and spiral-
sliced smoked bone-in hams, corned beef, and other smoked meat
items sold through supermarket chains and independent grocers.

Armour-Eckrich Meats has added approximately 600 million
pounds of packaged meats to Smithfield’s overall volume, with
large market shares in hot dogs, dinner sausages, and luncheon
meats. In fact, it contributed to a 20-percent increase in Smithfield’s
packaged meats volume during fiscal 2007. Since the acquisition,
Armour-Eckrich has focused on increasing distribution in existing
markets and introducing a number of premium items. Among
them, three new flavors of Eckrich Smoked Sausage—Chipotle,
Chorizo, and Baja Blend—hit store shelves in July 2007.

Mothers want the best for their children, so it’s no surprise that they have made the Eckrich and Armour
ABOUT THIS PHOTO
brands a popular supermarket selection for breakfast, a backyard barbecue, or the family dinner table.
Armour-Eckrich Meats distributes these and other brands that stand for flavor, high quality, and value
through the foodservice channel as well.

11

BUTTERBALL ACQUISITION CATAPULTS
SMITHFIELD TO TOP POULTRY RANKS

Mention Smithfield Foods, and it’s a good bet that the next words
out of the average person’s mouth will be “ham” or “pork.”
Smithfield is, indeed, the world’s largest pork processor. However,
the company also owns 49 percent of Butterball, LLC, the No. 1
U.S. turkey producer and processor with annual sales exceeding
$1 billion. Smithfield’s long-standing Carolina Turkeys joint venture
with Maxwell Farms, Inc., acquired the celebrated Butterball brand
in October 2006 from ConAgra Foods, and it adopted the Butterball
name in the process.

The acquisition has catapulted Smithfield to the top ranks of the
poultry industry and added a national brand with more than a half
century of brand equity to Smithfield’s packaged meats portfolio.
It also complements the company’s strengths in pork and beef.
Smithfield is the nation’s fifth-largest beef processor and, through
another joint venture, the world’s largest cattle feeder.

Beyond the whole birds that grace Thanksgiving dinners across the
country, Butterball’s seven U.S. plants produce a broad range of
retail, foodservice, and deli products for customers in 20 countries.
The company sells cooked turkey breasts, turkey sausages, ground
turkey, turkey bacon, and lunchmeat, to name just a few.

The Butterball brand continued to widen its lead in the market-
place during the past year, helped in part by the 5-percent increase
in sales of pre-packaged whole turkeys. The company also launched
an All Natural line of cooked deli breasts and introduced several
chicken varieties of Butterball lunchmeats.

For more than 50 years, Butterball turkeys have been a staple of Thanksgiving dinners such as the one being
ABOUT THIS PHOTO
enjoyed by this Florida family. Moreover, Butterball is the only national poultry brand to offer a complete line
of premium turkey and chicken products for a variety of year-round meal occasions. A bit of trivia: The
Butterball name was originally chosen to characterize a new breed of broad-breasted white-feather turkeys.

12

NEW KINSTON PLANT PAVES THE WAY
FOR PACKAGED MEATS EXPANSION

Among Smithfield Foods’ current strategic goals, utilizing more
raw materials internally and migrating to higher-margin, further-
processed products top the list. The company has been busy
acquiring several leading packaged meats brands in the United
States and Europe over the past year for just this purpose. At the
same time, Smithfield has also been addressing capacity issues
among core brands to pave the way for their continued growth.

Nowhere is this more evident than in the new deli ham and sliced
lunchmeat plant that The Smithfield Packing Company opened in
Kinston, North Carolina, in 2006. The $100 million facility, dubbed
“K2” to distinguish it from the company’s other processing
operation across town, already produces 90 million pounds of
packaged meats annually for the retail, foodservice, and deli
channels. Products bearing the Smithfield and Gwaltney brands fill
departing tractor-trailers, as do popular regional brands such as
Lykes, Valleydale, and Esskay. With 238,000 square feet, K2 has the
capacity to produce up to 130 million pounds each year to serve
Smithfield Packing’s markets along the East Coast. Among its other
benefits, K2 has allowed Smithfield Packing to close two other
plants and manufacture their products far more efficiently.

The most automated ham processing plant in the world, K2 has
been built from the ground up to consume less water than
traditional plants. It also employs the latest in food safety
technology. For example, the Armor Inox Thermix™ system that
cooks and chills the hams virtually eliminates the need for workers
who monitor the process to touch products after raw meat is first
stuffed into casings.

Smithfield Packing Company’s K2 plant took 13 months to construct, and it employs approximately
ABOUT THIS PHOTO
300 people. Among them, Gritzel Morales is busy inspecting Smithfield Virginia Brand half hams before
they undergo the pasteurization process. Built with a focus on enhanced food safety, K2 houses its seven
slicing lines in separate halls with dedicated drainage and air handling systems.

14

PAULA DEEN AND SMITHFIELD DEVELOP
WAYS OF PROMOTING THE FAMILY MEAL

Getting families to sit down to meals together on a regular basis
can be challenging these days, but Smithfield Foods has enlisted a
secret weapon on this front. Since September 2006, the company
has teamed with celebrity cook Paula Deen in a partnership that
includes community outreach efforts, personal appearances,
Web-based recipe and meal-preparation tips, and new products.

With her two shows on the Food Network, six cookbooks, and
Cooking with Paula Deen magazine, food lovers across the country
are familiar with the ubiquitous Deen and the Southern spell she
casts on her dishes. A longtime user of Smithfield products, she
hopes to make people feel more confident in selecting cuts of meat
that take less time to prepare, are easy to make, and are well-
balanced for family members.

Not surprisingly, studies by Iowa State University and other schools
have found that the family meal offers clear benefits. Along with
providing children with better nutrition, this time together allows
parents to teach table manners, social skills, family values, a sense
of community, and basic cooking skills.

In July, Smithfield launched a national Cable TV ad campaign
featuring Deen. The 30-second spots feature Deen telling consumers
about all the wonderful, easy-to-fix recipes using Smithfield
products that she has waiting for them at Smithfield.com. In the
first four TV spots running this summer, Paula entices viewers with
her delicious recipes for Smithfield Smoked Sausage, Marinated
Pork Tenderloin, Deli Thin Sliced Tub Lunchmeat, and Naturally
Hickory Smoked Bacon.

In her home kitchen in Savannah, Georgia, Paula Deen puts the finishing touches on a Smithfield spiral-
ABOUT THIS PHOTO
sliced half-ham. Her homemade glaze contains premium peanuts from The Peanut Shop of Williamsburg, part
of The Smithfield Specialty Foods Group. In January 2007, this Smithfield subsidiary launched a line
of sauces and seasonings under the Paula Deen brand.

17

SMITHFIELD’S CULINARY THINK TANK
PUTS INNOVATION ON THE MENU

How does a restaurant shave enough minutes off a dish’s
preparation time to add it to the menu? Ask Certified Master
Chef Michael Formichella. He was in his office at the Smithfield
Innovation Group (SIG) when a call came in from a representative
of Smithfield Foods’ national account team. One of its customers, a
large chain of casual dining restaurants, had a problem: It wanted
to serve a double-cut boneless pork loin chop wrapped in Apple-
Wood Smoke bacon, but the kitchen staff couldn’t find a way to
cook the dish quickly enough. Formichella dispatched a member
of his team, who analyzed the restaurant’s preparation techniques
and demonstrated a different way to sear the meat and hold it in
the oven. That shaved six minutes off its prep time—a lifetime in
the restaurant business—and the dish was added to the menu.

For SIG, challenges like this add up to business as usual. Since
its founding in 2003, this five-member culinary think tank has
provided virtually all of Smithfield’s independent operating
companies with solutions to specific customer needs as well as
offering new product ideas. Formichella, whose lengthy resumé
includes a stint as executive chef at a five-star restaurant, has
been with SIG since its inception. He took over the reins in 2006.

Among the past year’s successes, SIG helped the Smithfield
Specialty Foods Group leverage its relationship with celebrity
cook Paula Deen by developing a line of sauces and seasonings.
Introduced in January 2007, Paula Deen Collection Sauces &
Seasonings have been a big hit on the QVC home shopping
network and among catalog shoppers. A line of Simply Southern
heat-and-eat side dishes are on the way as well.

Chef Michael Formichella puts the entrepreneurial talents of the Smithfield Innovation Group to work on
ABOUT THIS PHOTO
a year-round basis for the Smithfield Foods family of companies. He frequently hits the road to present
new dishes to retailers and restaurant chains and often hosts customers at the company’s test kitchen in
Buffalo Grove, Illinois.

18

CORPORATE SOCIAL RESPONSIBILITY
TAKES MANY FORMS AT SMITHFIELD

Thanks to Smithfield Foods’ John Morrell & Co. subsidiary, 25 needy
high school seniors from Sioux Falls, South Dakota, have dually
enrolled at a two-year school where they are pursuing their dreams
of a post-secondary education. These students are the first to
benefit from Learners to Leaders, a national educational alliance
funded by the Smithfield-Luter Foundation. Made up of Smithfield’s
independent operating companies and local education partners,
Learners to Leaders wants to close the economic gap that keeps
many high school students from obtaining further education.
Participating students are typically the first generation in their
families to continue beyond high school.

Subsidiaries in Green Bay, Wisconsin, and Denison, Iowa, have
since launched their own Learners to Leaders programs, with
several more in the works. The Smithfield-Luter Foundation
supports a number of other education programs as well, including
the work of An Achievable Dream. This organization provides
underprivileged children in the Newport News, Virginia, area (the
student in the far right photo among them) with a solid education
that prepares them for college. As sponsor of its 2006 high school
graduating class, Smithfield has given more than 30 students each
a merit scholarship worth $2,000 annually for four years of college.

Smithfield has also made protecting the environment, ensuring
worker safety, improving animal welfare, and other areas of
corporate social responsibility a priority. For example, the company
is helping fund the Ducks Unlimited Sound CARE initiative in
North Carolina as part of the $2 million contributed annually for
the state’s environmental enhancement grants. Begun in 2003,
Sound CARE has conserved or restored some 10,000 acres of
wetlands to date such as the Mattamuskeet National Wildlife
Refuge (right). By joining the Chicago Climate Exchange (CCX) in
February 2007, Smithfield has committed to cutting the company’s
greenhouse gas emissions in the United States by a minimum of
6 percent by 2010.

20

OUR ORGANIZATIONAL STRUCTURE

SMITHFIELD FOODS, INC.

Pork
Smithfield Packing Company, Inc.
The Smithfield Specialty Foods Group

John Morrell & Co.
Armour-Eckrich Meats LLC
Curly’s Foods, Inc.
Cumberland Gap Provision

Farmland Foods, Inc.
Cook’s Hams, Inc.
Patrick Cudahy, Inc.
North Side Foods
Stefano Foods, Inc.
Smithfield RMH Foods, LLC
Smithfield Innovation Group

Beef
Smithfield Beef Group
Five Rivers Ranch Cattle Feeding LLC1

International
Europe
Animex (Poland)
Groupe Smithfield, S.L. (Europe)1
Smithfield PROD (Romania)
Smithfield Foods, Ltd. (U.K.)
Campofrio (Spain)2
Other
Maverick Food Co. Ltd. (China)1
Norson (Mexico)1

Hog Production
Murphy-Brown, LLC

Other
Butterball, LLC1
1 Joint venture
2 Smithfield Foods owns a 23% stake.

OUR FAMILY
OF COMPANIES
A series of successful acquisitions completed largely over the
past decade have transformed Smithfield Foods into a global
food company with annual revenue approaching $12 billion.
Here is a breakdown of our fiscal 2007 sales by operating
segment: Pork (59%), Beef (19%), Hog Production (14%),
International (7%), and Other (1%).

Our operating companies and joint ventures maintain their
individual identities, but together they make Smithfield Foods
a leader in several key categories. The following pages provide
snapshots of these companies, including selected brands and
markets as well as highlights from the latest fiscal year.

HEADQUARTERS:
Founded in 1936 by Joseph W. Luter and his son, Joseph W. Luter, Jr., The Smithfield Packing
Smithfield, VA
Company today enjoys annual sales of more than $2.5 billion. Smithfield Packing’s primary
lines of business include fresh pork, smoked meats, bacon, cooked hams, and hot dogs for PRESIDENT:
retail, foodservice, and deli channels. The company exports products to more than 30 Joseph W. Luter, IV
countries. In addition to the Smithfield brand, its Gwaltney, Esskay, and Valleydale products
EMPLOYEES: 12,000
are among the leaders in their respective markets. The Smithfield Specialty Foods Group
is home of the Genuine Smithfield Ham, The Peanut Shop of Williamsburg, and other
gourmet offerings.

SUBSIDIARIES

i Smithfield Specialty Foods Group (see profile on pg. 35)

MAJOR BRANDS

i Smithfield i Smithfield Tender N Easy i Smithfield Self Basting

i Gwaltney i Great i Esskay

MAJOR MARKETS

i United States i South Korea i Russia
i Japan i Mexico i European Union

i China i Canada

24

www.smithfield.com

PROCESSING FACILITIES

i Elon, NC
i Smithfield, VA i Wilson, NC
Dry-cured hams
Fresh pork, bacon, sausage Bacon

i Portsmouth, VA
i Kinston, NC i Tar Heel, NC
Franks, lunchmeat
Smoked hams, water-cooked hams Fresh pork

i Landover, MD i Plant City, FL
Smoked hams Smoked hams, franks

FISCAL 2007 HIGHLIGHTS F

i Forged a marketing partnership with Paula Deen that has i Opened the most modern, efficient cooked-ham plant in
generated increased consumer awareness of the Smithfield the United States in Kinston, North Carolina, positioning
brand and substantial interest among trade partners Smithfield as a leading provider of sliced and whole deli
ham and turkey products for retail and foodservice
i Expanded retail distribution level of Smithfield bacon in channels
core Eastern U.S. markets from 69 percent to 80 percent,
according to ACNielsen i Increased sales of Gwaltney-branded hot dogs by 3 percent
over the previous year, securing Gwaltney’s position as the
i Experienced double-digit increases in deli and foodservice
No. 1 brand of retail hot dogs in its core marketing area
sales; precooked bacon volume jumped by more than
and the No. 4 brand of hot dogs in the United States
200 percent with launch of new capacity
i Introduced the One Step Closer™ line of marinated stuffed
i Developed solid export business in European Union with
pork in response to consumer demand for great-tasting,
other Smithfield subsidiaries as well as external customers
easy-to-prepare meals
i Installed CO2 stunning at its plants in Smithfield, Virginia,
and Tar Heel, North Carolina

25

OUR FAMILY OF COMPANIES

HEADQUARTERS:
John Morrell & Co. was founded in England in 1827 and is the oldest continuously operating
Cincinnati, OH
meat manufacturer in the United States. It enjoys annual sales of approximately $2 billion.
Serving the retail, foodservice, and deli channels, John Morrell & Co.’s primary product lines PRESIDENT:
include smoked sausages, hot dogs, natural smoked hams, bacon, deli meats, corned beef, and Joseph B. Sebring
fresh pork products. The company sells products under the flagship John Morrell brand and
EMPLOYEES: 6,700
more than a half-dozen others. Its celebrated Kretschmar brand offers a full line of German-
style favorites for the service deli, including hams, turkey, cooked beef, sticks, and loaves.
John Morrell & Co. is also one of the nation’s largest producers of private-label packaged meats.

SUBSIDIARIES

i Armour-Eckrich Meats LLC i Cumberland Gap Provision i Henry’s Hickory House
(see profile on pg. 28) (see profile on pg. 29)

i Mohawk Packing i Curly’s Foods Inc.
(see profile on pg. 29)

MAJOR BRANDS

i John Morrell i Mosey’s Corned Beef i EZ Cut Hams

i Kretschmar Deli i Rath Blackhawk i Hunter

MAJOR MARKETS

i Midwest U.S. i Northwest U.S. i Eastern Asia

i Northeast U.S. i Southwest U.S.

26

www.johnmorrell.com


i Sioux Falls, SD i Great Bend, KS i Cincinnati, OH
Fresh pork, sausages, smoked meats Fresh pork, smoked meats Hot dogs, sausages, lunchmeats

i Sioux City, IA i San Jose, CA
Fresh pork Corned beef, smoked meats

FISCAL 2007 HIGHLIGHTS S

i Restaged John Morrell brand with new logo and package i Gained more than 800 distribution points as a result of
graphics, a new advertising and promotional campaign, and new retail offerings
NFL quarterback Carson Palmer as brand spokesperson
i Rolled out 13 cheeses for the service deli channel under
i Introduced several new retail products, including ham the Kretschmar brand
and poultry cuts in resealable packages, cocktail smokies,
i Launched Applewood naturally smoked bacon for
resealable tub bacon, Bavarian branded boneless hams,
foodservice customers
quarter spiral bone-in hams, deli party trays, and cocktail
party trays
i Grew to the No. 1 brand of ham cuts in the United States
and the No. 2 brand of cocktail links

27


www.armour-eckrich.com

HEADQUARTERS:
Armour-Eckrich Meats LLC enjoys annual sales exceeding $1 billion, 90 percent from
Naperville, IL
precooked and other convenience items for the retail, deli, and foodservice channels. Anchored
by the venerable Eckrich and Armour brands, the company’s primary product lines include PRESIDENT:
dry and smoked sausage, lunchmeat, precooked bacon, hot dogs, portable lunches, and deli Michael E. Brown
products. Eckrich brand sausage is ranked No. 1 in sales in nine U.S. markets, with Armour a
EMPLOYEES: 3,600
leading value brand in hot dogs. LunchMakers is the No. 2 portable lunch brand nationally.

MAJOR BRANDS

i Eckrich i Armour i Margherita

MAJOR MARKETS

i Central U.S. i Texas i Northeast U.S.


i Peru, IN i Mason City, IA i Hastings, NE
i St. Charles, IL
i Junction City, KS i St. James, MN i Lufkin, TX
i Omaha, NE

FISCAL 2007 HIGHLIGHTS

i Developed Armour Sizzle & Serve frozen breakfast i Launched Eckrich Fried Favorites, among the industry’s
links and patties first line of fried meat items for the deli case

i Prepared three new Eckrich smoked sausage flavors for i Upgraded the package graphics for Armour meatballs and
summer 2007 launch: Chipotle, Chorizo, and Baja Blend began work on a similar initiative for Armour hot dogs

i Restaged Eckrich Ready Crisp precooked bacon with i Created dedicated sales, marketing, operations, logistics,
upgraded product quality and improved packaging and finance teams following 2006 acquisition by Smithfield

28

www.curlys.com www.cumberlandgapprovision.com
HEADQUARTERS: HEADQUARTERS:
Edina, MN Middlesboro, KY

PRESIDENT: PRESIDENT:
John Pauley R.D. McGregor

EMPLOYEES: 700 EMPLOYEES: 325

Established in 1988, Curly’s Foods, Inc. supplies leading Cumberland Gap, the first great gateway to the West, is also
restaurant chains with raw and fully cooked ribs as well home to great-tasting hams, sausages, and other specialty
as smoked pork, beef, and chicken entrees. The company’s packaged meats smoked using 100-percent genuine hickory
retail offerings can be found at many club stores and wood. Founded in 1979, the company makes the best-selling
supermarkets. At its plant in Sioux City, Iowa, an authentic semi-boneless ham in the United States. It serves some of the
pit smoker gives Curly’s meats genuine, wood-smoked nation’s largest supermarket chains with branded products
barbecue flavor. and a substantial private-label business.

MAJOR BRANDS MAJOR BRANDS

i Olde Kentucky
i Curly’s Foods i Cumberland Gap

MAJOR MARKETS MAJOR MARKETS

i United States i Taiwan i United States
i Mexico i Colombia

FISCAL 2007 HIGHLIGHTS FISCAL 2007 HIGHLIGHTS

i Revenue increased 17 percent due mainly to growth in i Sales rose by 6 percent due to success of semi-boneless
retail sales and in the cooked beef foodservice category ham and increased private-label business

i Introduced cooked carnitas and prime rib for foodser- i Successfully completed transition to new order-entry
vice customers and cold-smoked ribs for retailers and billing system

29

HEADQUARTERS:
Farmland Foods, Inc., derives the majority of its more than $2.2 billion in annual sales from
Kansas City, MO
a broad selection of pork products for retail and foodservice customers. Its primary lines of
business include fresh pork, case-ready pork, hams, bacon, fresh sausage, cooked sausage, PRESIDENT:
George Richter
lunchmeat, dry sausage, and specialty sausage. Since its founding in 1959, Farmland Foods has
maintained a proud heritage of working side by side with American farm families. Smithfield EMPLOYEES: 6,500
Foods acquired the company in 2003. Farmland Foods has a large and growing international
business, exporting products to more than 60 countries across six continents. Its Carando Foods
subsidiary is one of the largest suppliers of Italian deli and specialty meats in the United States.

SUBSIDIARIES

i Carando Foods i Cook’s Hams, Inc. (see profile on pg. 32)

MAJOR BRANDS

i Farmland i Carando i Cook’s

MAJOR MARKETS S S

i United States i China i Canada

i Japan i Europe i Taiwan

i Mexico i South Korea i Australia

i Russia

30

www.farmlandfoods.com
www.carando.com


i Crete, NE i Wichita, KS i New Riegel, OH
Fresh pork, hams, bacon, sausage Smoked sausage, hot dogs, lunchmeat Bone-in hams, spiral hams

i Denison, IA i Carroll, IA i Salt Lake City, UT
Fresh pork, hams, bacon Cook-in-bag products Case-ready fresh pork

i Monmouth, IL i Springfield, MA
Fresh pork, hams, bacon Dry sausage and specialty sausage


i Worked with Murphy-Brown to develop a new herd of i Moved corporate office to a new location with state-of-the-
vegetarian-fed, antibiotic-free animals for Farmland art R&D and test kitchen facilities
GI
Simply Natural brand
i Brought new CO2 stunning facility online in Denison, Iowa,
i Launched 15 Farmland Simply Natural and 13 Farmland improving animal welfare and enhancing pork quality
All Natural products in January 2007
i Received European Union certification to begin exporting
i Secured a contract as the exclusive supplier of pork to products from Crete, Nebraska, plant
Sodexho, with annual volume estimated at 36 million
i Exceeded third-year objectives as part of a six-year plan to
pounds
utilize all hams and bellies internally
i Opened new distribution center in Crete, Nebraska, in
i Continued work on modernizing manufacturing facilities
July 2007
across the company

31


www.CooksHam.com www.emberfarms.com
Lincoln, NE Arnold, PA

GENERAL MANAGER: PRESIDENT:
Mark Meiners Robert G. Hofmann, II

EMPLOYEES: 1,300 EMPLOYEES: 325

The acquisition of Cook’s Hams, Inc., in 2006 brought North Side Foods has been making great-tasting meats for
another producer of high-quality packaged meats under the nearly a century. Today, the company’s plants in Arnold,
Smithfield umbrella. Cook’s offers traditional and spiral Pennsylvania, and Cumming, Georgia, specialize in
sliced bone-in hams, other smoked meats, and corned beef precooked pork and turkey sausage patties, links, and
primarily for supermarket chains and independent grocers. crumbles for the foodservice industry. The first provider of
The company operates plants in Lincoln, Nebraska; Martin fully cooked sausage to McDonald’s Corporation, North Side
City, Missouri; and Grayson, Kentucky. Foods remains one of its major suppliers.

MAJOR BRANDS
MAJOR BRANDS

i Ember Farms
i Cook’s

MAJOR MARKETS MAJOR MARKETS
MAR

i Eastern U.S. i Midwest/Western U.S. i Canada
i United States i Canada i Mexico


i Launched exact-weight boneless ham items and i Completed plant expansion in Georgia, increasing the
quartered spiral-sliced ham company’s production capacity by 33 percent

i Increased market share of value-added ham products i Broadened market reach into Canada with the addition
by broadening retail customer base of a major quick-serve account

32

www.stefanofoods.com www.rmhfoods.com
Charlotte, NC Morton, IL

PRESIDENT: PRESIDENT:
Enrico Piraino Jonathan Rocke


From its roots as an Italian delicatessen and pizzeria, Smithfield/RMH Foods Group produces more than 150
Stefano Foods today produces ready-to-eat and ready-to-cook varieties of fully cooked beef, pork, and chicken entrees at
entrees, appetizers, and snacks at its two plants in its two plants in Morton, Illinois. The company provides
Charlotte, North Carolina. The company’s pizzas, calzones, branded and private-label offerings for retail customers and
panini, and other convenience items are a popular choice also serves the deli and foodservice channels. With roots
in the deli section of grocery stores. Its products are also dating back to 1937, RMH has long specialized in high-
sold through foodservice and fundraising channels. quality, value-added meat products.

MAJOR BRANDS MAJOR BRANDS

i Rip-n-Dip i Party Dipper
i Stefano’s i Smithfield i Quick-N-Easy i Flavoré

MARKETS MAJOR MARKETS
MAJOR MAR

i United States
i United States i Canada i Mexico


i Increased sales by more than 45 percent, with i Enjoyed 17-percent sales growth driven in part by the
retail and fundraising providing the greatest gains Quick-N-Easy brand’s expansion into club stores

i Tripled grilled panini sales, mostly through the i Launched a three-item heat-and-serve appetizer tray
retail channel under the Smithfield and Quick-N-Easy brands

33


www.patrickcudahy.com
www.814americas.com

HEADQUARTERS:
Founded in 1888 in Milwaukee, Wisconsin, Patrick Cudahy specializes in high-quality, branded
Cudahy, WI
packaged meats for the foodservice, deli, and retail channels. Primary lines of business include
precooked and traditional bacon, dry sausage, ham, and sliced meats. Patrick Cudahy is among PRESIDENT:
the top three U.S. producers of precooked bacon. The company has long been identified with William G. Otis
Sweet Apple-Wood Smoke Flavor®, one of its most popular bacon varieties. In 2005, Patrick
EMPLOYEES: 2,300
Cudahy purchased 814 Americas as part of its expansion into the fast-growing Hispanic market.

MAJOR BRANDS

i Patrick Cudahy i Realean i La Abuelita i Riojano i Pavone
i Higüeral i El Miño

MAJOR MARKETS

i United States i Mexico i Canada i Caribbean i Japan

P

i Cudahy, WI i Sioux Center, IA i Elizabeth, NJ


i Enjoyed 10-percent volume growth for premium dry i Expanded capacity for precooked bacon in Sioux Center,
sausage and specialty Italian deli products Iowa, to support rapid category growth

i Increased volume and revenue by 15 percent in the i Focused on improving productivity across all operations to
Hispanic foods segment; expanded distribution and product keep core Patrick Cudahy business competitive; improved
introductions drove strong performance across all brands at line efficiencies by 20 percent
814 Americas

34

www.smithfieldinnovationgroup.com www.thepeanutshop.com
Buffalo Grove, IL www.smithfieldhams.com Toano, VA
www.smithfieldcollection.com
SENIOR VP & COO: VP & GENERAL MANAGER:
Michael Formichella CMC Wm. W. “Pete” Booker, III


Founded in 2003, the Smithfield Innovation Group is a The Smithfield Specialty Foods Group is the gourmet products
culinary think tank that develops new food product ideas division of Smithfield Foods. Home of The Peanut Shop of
for the Smithfield Foods family of companies. Chef Michael Williamsburg and Genuine Smithfield Ham, it sells dozens
Formichella and his team capitalize on emerging trends of high-quality nuts, meats, desserts, and dressings. These
in foodservice, retail, and deli. As a result, they create products are popular choices for gifts and incentives, and they
solutions that set Smithfield companies apart from the are available through the company’s catalogs, Web sites, and
competition and address unique customer needs. four retail locations in Virginia, Georgia, and South Carolina.

KEY CAPABILITIES MAJOR BRANDS

i Paula Deen Collection
i Developing original, cost-effective menu solutions i The Peanut Shop of Williamsburg
i Basse’s Choice
i Genuine Smithfield Ham
i Providing culinary expertise specific to each customer’s needs

i Assessing the operational needs of foodservice operators as they MAJOR MARKETS
relate to time, space, and labor
i United States


i Created marinated meats and 40-ounce dinner kits for i Posted double-digit sales growth, in part through
club stores as well as rubbed loins for grocery stores broader catalog distribution and strategic partnerships

i Developed 10 Paula Deen sauces for QVC and specialty i Introduced Paula Deen Collection Sauces & Seasonings
stores and stuffed beef filets for a large retailer through The Peanut Shop of Williamsburg

35


HEADQUARTERS:
The fifth-largest beef processor in the United States, the Smithfield Beef Group specializes in high-
Green Bay, WI
quality USDA Prime and Choice beef. It processes more than 2 million head of cattle each year for
annual sales exceeding $2.5 billion. Smithfield Beef Group provides fresh beef in sub-primal and PRESIDENT:
case-ready packaging for both the retail and foodservice industries. Specialty brands include Richard V. Vesta
Cedar River Farms Natural, which comes from cattle raised without the use of growth-promoting
EMPLOYEES: 5,600
hormones. In addition to a strong domestic base of customers, Smithfield Beef Group exports to
more than 20 countries. The Smithfield Beef Group was created following Smithfield Foods’ 2001
acquisitions of Packerland Holdings and Moyer Packing Company.

SUBSIDIARIES

i Packerland Packing Company, Inc. i Sun Land Beef Company i Packerland Transport, Inc.

i Packerland–Plainwell, Inc. i Moyer Packing Company i Cattle Production Systems, Inc.

MAJOR BRANDS

i Smithfield i Aberdeen Farms Black Angus i Packerland

i Cedar River Farms Natural i Showcase Foods

MAJOR MARKETS

i United States i Mexico i Canada

i Japan

36

www.sfbeef.com


i Green Bay, WI i Plainwell, MI i Souderton, PA
Sub-primal cuts, ground beef chubs Sub-primal cuts, ground beef chubs, Sub-primal cuts, ground beef chubs,
case-ready ground beef case-ready ground beef, patties
i Tolleson, AZ
Sub-primal cuts


i Increased volumes by 11 percent on a year-over-year basis i Returned beef processing to profitability in spite of
due to growth in foodservice and retail customer base challenging industry conditions

i Re-entered Japanese and Korean markets successfully i Repositioned all processing facilities under the Smithfield
following end of ban on U.S. beef Beef Group banner

i Launched the Aberdeen Farms Black Angus brand i Increased efficiencies at the Tolleson, Arizona, facility
successfully through major reconfiguration of the harvest area

i Expanded high energy fed Holstein capabilities through i Established a strategic alliance to be the exclusive
additional strategic alliances with calf feeders producer of Premium Gold Angus Beef

37


www.fiveriverscattle.com

HEADQUARTERS:
Formed in 2005, Five Rivers Ranch Cattle Feeding LLC is an independently operated joint
Loveland, CO
venture between the cattle feeding businesses of ContiGroup Companies, Inc., and Smithfield
Foods, Inc. Five Rivers, the world’s largest cattle feeder, has a combined feeding capacity of PRESIDENT & CEO:
more than 800,000 head of cattle. It has 10 locations in Colorado, Idaho, Kansas, Oklahoma, Mike Thoren
and Texas. From one-load and hobby cattle feeders to large-scale beef processors, Five Rivers
EMPLOYEES: 575
provides exceptional service to a variety of cattle-feeding customers.

COLORADO

i Colorado Beef i Gilcrest Feedlot i Kuner Feedlot i Yuma Feedlot

IDAHO

i Interstate Feedlot

KANSAS

i Grant County Feeders

OKLAHOMA

i Cimarron Feeders

TEXAS DS

i Hartley Feeders i XIT Feeders
i Coronado Feeders


i Instituted an aggressive management recruitment and i Completed several significant capital improvements focused
development program on improving energy and milling efficiencies

i Provided existing and new customers with cattle for value-
i Dedicated substantial capital to ensuring sustainable
environmental compliance at multiple locations added and branded beef programs

38

www.murphybrownllc.com

HEADQUARTERS:
Murphy-Brown, LLC, is the world’s largest hog producer and a key part of Smithfield Foods’
Warsaw, NC
vertical integration strategy. The company was established in 2001 following the acquisitions
of Brown’s of Carolina, Carroll’s Foods, Murphy Family Farms, and Circle Four Farms. Murphy- PRESIDENT:
Brown owns approximately 1 million sows, with 85 percent based in the United States. Its U.S. Jerry Godwin
operations bring nearly 13 million hogs to market annually. Murphy-Brown International
EMPLOYEES: 5,700
produces more than 2 million additional hogs each year. The company’s Smithfield Premium
Genetics subsidiary is charged with improving swine genetics throughout the organization.

MURPHY-BROWN EAST 250 company-owned farms and approximately 1,200 contract producer farms

i North Carolina i Pennsylvania i South Carolina i Virginia

MURPHY-BROWN WEST 50 company-owned farms and approximately 500 contract producer farms

i Colorado i Iowa i Oklahoma i Texas
Illinois i Illinois Missouri South Dakota Utah
Ci
i Illinois i Missouri i South Dakota i Utah
Iowa Oklahoma Texas

MURPHY-BROWN INTERNATIONAL
MAJOR BRANDS

i Mexico: Norson i Poland: Agri Plus
i Mexico: Granjas Carroll de Mexico (GCM) i Romania: Smithfield Ferme


i Established team to manage transition of sows from
i Expanded farming operations in Mexico and began
individual gestation crates to group housing
increasing Circle Four Farms sow herd in Utah

i Partnered with North Carolina energy provider to promote
i Continued dramatic growth in Europe, expanding farms
legislation that would offer incentives to hog farms that
in Poland and Romania by 16,000 and 24,000 sows,
produce electricity from renewable sources
respectively

i Completed implementation of Animal Welfare Management
i Completed construction of a feed mill in Romania and
System at Murphy-Brown West
began construction of a second

39

HEADQUARTERS:
Butterball, LLC, is the largest U.S. turkey producer, with annual sales exceeding $1.2 billion.
Mount Olive, NC
Smithfield Foods owns 49 percent of the company, a joint venture with Maxwell Farms, Inc.,
of Goldsboro, North Carolina. Formerly Carolina Turkeys, the company adopted the Butterball CEO:
name in acquiring the brand in October 2006. The celebrated Butterball name is the most widely Keith Shoemaker
recognized brand in the turkey industry and carries more than a half-century of brand equity.
EMPLOYEES: 5,700
Primary lines of business include whole turkeys and parts, cooked turkey breasts, turkey
sausages, ground turkey, lunchmeat and fresh tray pack, bone-in and boneless turkey. Available
through retail, deli, and foodservice channels, Butterball products are sold in 20 countries.

MAJOR BRANDS

i Butterball i Carolina Turkey

MAJOR MARKETS

i United States i Costa Rica i The Bahamas

i Mexico i Panama i Dominican Republic

i China i Guatemala i Russia

i Bermuda i Puerto Rico

40

www.butterball.com


i Mount Olive, NC i Carthage, MO i Longmont, CO
Cooked deli breasts, pre-packaged fresh tray Pre-packaged fresh tray pack turkey, raw bulk turkey Pre-packaged sliced turkey, cooked deli
pack turkey, ready-to-eat frozen breasts, breasts, raw meats, hot dogs
i Jonesboro, AR
turkey medallions, pre-packaged frozen
i Huntsville, AR
Cooked deli breasts
turkey breasts, raw turkey breasts
Pre-packaged fresh, frozen, and cooked
i Kinston, NC i Ozark, AR whole turkeys, pre-packaged bone-in tray
Sliced turkey products (bulk and pre-packaged) Pre-packaged fresh and frozen whole turkeys pack turkey products


i Increased sales of Butterball pre-packaged whole turkeys i Broadened foodservice national account distribution with
by 5 percent addition of several national restaurant chains

i Widened market-leading Butterball brand share while i Began selling turkey medallions to a major food
category sales declined 3 percent manufacturer for a new line of consumer branded products

i Introduced All Natural line of cooked deli breasts i Realized double-digit international value-added sales by
introducing branded items into five new markets
i Expanded distribution of Butterball lunchmeats with
i Enhanced U.S. deli distribution with addition of several
introduction of chicken varieties
major grocery retailers

41


HEADQUARTERS:
Groupe Smithfield is the home of Aoste, Jean Caby, Stegeman, Nobre, and many
Paris, France
of Western Europe’s other most popular branded packaged meats. Its annual sales total
$1.9 billion. Smithfield Foods owns 50 percent of this joint venture with Oaktree Capital PRESIDENT:
Management, LLC. The company was formed in 2006 through the combination of Smithfield’s Robert A. Sharpe II
Groupe Jean Caby subsidiary and the former Sara Lee European Meats business. Primary
EMPLOYEES: 6,650
product lines include dry sausage, dry ham, cooked ham, cooked sausage, poultry, pâté, hot
dogs, and ready-to-eat meals. Groupe Smithfield serves Europe’s modern and traditional retail
trade as well as a large and growing number of foodservice customers.

SUBSIDIARIES

i Nobre i Groupe Aoste i Aoste SB Germany

i Imperial i Stegeman

MAJOR BRANDS

i Aoste i Stegeman i Jean Caby

i Cochonou i Marcassou

i Justin Bridou i Nobre

MAJOR MARKETS

i France i Luxembourg i U.K.

i Belgium i Portugal

i The Netherlands i Germany

42

www.aoste.de
www.imperial.be
www.nobre.pt


i Belgium
i Portugal
Cooked ham, dry ham
Cooked ham, dry ham, sausage, salami,
ready meals
i France
i The Netherlands Dry ham, dry sausage, cooked ham,
Cooked ham, dry ham cocktail sausage


i Finished the year significantly ahead of plan, leading to i Launched initiative to reposition Jean Caby and Aoste
increased sales targets for fiscal 2008 products for the high end of the private-label market

i Reaped operational efficiencies through the merger of i Developed plan to improve margins by optimizing the
Jean Caby and Aoste in France manufacturing platform for the French companies

i Struck an agreement with McDonald’s for the production i Increased budget for marketing and advertising by
of a salad 35 percent to revamp brands and develop new products

i Agreed with Weight Watchers to increase product range i Began producing sandwiches for a top-quality bakery chain
of new low-fat and low-salt varieties from 12 to 20

43


www.animex.pl

HEADQUARTERS:
Animex is Poland’s largest producer of fresh and packaged meats and home of the prized
Warsaw, Poland
Krakus ham. With annual sales of approximately $775 million, its primary lines of business
include fresh pork, beef, and poultry as well as smoked and cooked hams, sausages, hot dogs, PRESIDENT:
bacon, canned meats, and pâtés. Animex products are available in more than 50 countries at Darek Nowakowski
retail and through foodservice channels. Smithfield Foods acquired a controlling stake in the
EMPLOYEES: 8,750
company in 1999.

MAJOR BRANDS

i Krakus i Morliny i Mazury i Yano

MAJOR MARKETS

i Poland i European Union i Japan

i United States i South Korea


i Szczecin i Morliny i Opole i Ilawa i Zamosc i Krakow
i Elk i Starachowice i Debica i Suwalki i Grodkow


i Began selling fresh pork to the Japanese market
i Introduced the Yano brand in Poland with cooked hams,
sausages, hot dogs, and other value-priced products
i Enjoyed 45-percent U.K. volume growth, mainly through
new line of convenience poultry products and introduction
i Increased export volumes by 30 percent, largely due
of packaged meats in Tesco stores
to increased sales in the European Union and Far East

44

www.smithfieldfoods.ro

HEADQUARTERS:
Smithfield Foods entered the Romanian meat products market in 2004 by acquiring Agrotorvis.
Timisoara, Romania
Smithfield PROD’s annual sales have since grown to more than $60 million. Romania’s European
Union accession in 2007 positions the company to play a key role in Smithfield’s expansion PRESIDENT & CEO:
strategy on the continent. Its primary product line is fresh pork, principally for retail customers. Morten Jensen
Smithfield PROD also owns a 50-percent stake in food distributor Agroalim and cold storage
EMPLOYEES: 430
warehouse company Frigorifer.

MAJOR BRANDS

i Comtim

MAJOR MARKETS

i Romania


i Timisoara i Tulcea


i Opened refurbished pork processing plant in Timisoara i Built state-of-the-art rendering and wastewater treatment
facilities for Timisoara plant
i Doubled sales of fresh pork due largely to expansion of
Smithfield Ferme hog production operations i Invested in Frigorifer vegetable packing plant, funded in
part by the European Union
i Began distribution of fresh pork cuts to retail trade
i Invested in Frigorifer warehouse expansion
F

45

smithfield food Our Family of Companies 2007

smithfield food Our Family of Companies 2007

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