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Once the pork products division of the cooperative giant Farmland Industries Inc., the business is now a separately operated subsidiary of Virginia-based Smithfield Foods Inc.
Smithfield bought Farmland Foods in 2003, during the bankruptcy court liquidation of Kansas City-based Farmland Industries. The pork products operation sold for $481 million, which helped the bankrupt cooperative pay off all of its creditors, although owners still lost their money.
Farmland Foods, with $3 billion revenues, employs about 400 people at its Kansas City headquarters and 9,000 in total.
Despite the business turmoil, the Farmland brand has lived on along with its thousands of products. It's among several Smithfield owns, including Armour and Butterball.
Farmland Industries started its Kansas City-based pork operation with the 1959 purchase of a struggling pork plant in Denison, Iowa.
Today, that plant is still part of Farmland Food. The operation initially used the "Farmbest" label and launched its Farmland Foods identity in 1970.
At the time of its demise, Farmland Industries had $11.8 billion in sales, which ranked it among the nation's largest businesses, according to Fortune magazine's annual listing.
It also was the nation's largest farmer-owned cooperative and became the largest area company to file for bankruptcy protection from its creditors.
To reach Mark Davis, call 816-234-4372 or send e-mail to mdavis@kcstar.com.
To see more of The Kansas City Star, or to subscribe to the newspaper, go to http://www.kansascity.com. Copyright (c) 2009, The Kansas City Star, Mo. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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