Seaboard Pork has acquired hog inventory and a hog farm operation in the central United States from The Maschhoffs LLC for a total cash consideration of $58 million, Seaboard disclosed Tuesday in a regulatory filing.
The added operation increases the pork segment’s sow base, resulting in less reliance on third-party hog suppliers, Seaboard said in the filing.
The preliminary purchase price allocation for the Sept. 2 acquisition was $9 million to inventories, $45 million to property, plant and equipment and $4 million to goodwill, the company said. Goodwill represents the assembled workforce and the benefits of acquiring an existing operation.
Third-quarter results
The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB), with offices at 9000 West 67th Street, Merriam, Kansas, for the three and nine months ended October 1, 2022 and October 2, 2021, in millions of dollars except share and per share amounts (unaudited).
Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.
Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on November 21, 2022 to stockholders of record at the close of business on November 11, 2022.
