Smithfield Foods has completed the sale of most of its RMH Foods entree business and its Maverick Food joint venture in China. It was announced yesterday that  it has sold all of the assets of RMH Foods, which produces fully cooked beef, pork and chicken entrees, to a group of investors led by the Rocke family meanwhile Maverick Food, the group’s Chinese joint venture, has also been sold to COFCO Limited, China's largest national agricultural trading and processing company.

Larry Pope, president and CEO of Smithfield Foods said "The sale of these assets demonstrates our continuing commitment to shed non-core businesses with a greater focus on efficiencies and return on invested capital.These divestitures are examples of how we have altered our strategy to deliver better returns to our shareholders.”