SUBSEQUENT EVENT

6 Months Ended

Apr. 26, 2015

SUBSEQUENT EVENT

SUBSEQUENT EVENT

NOTE NSUBSEQUENT EVENT

On May 26, 2015, subsequent to the end of the second quarter, the Company announced that it has entered into a definitive agreement to acquire Applegate Farms, LLC (Applegate), of Bridgewater, N.J. for a preliminary purchase price of $775 million in cash.  The Company expects to close the acquisition within 60 days subject to regulatory approvals.  The purchase price is expected to be funded by the Company with cash on hand generated from operations and short-term financing.

Applegate® is the No. 1 brand in natural and organic value-added prepared meats and this acquisition would allow the Company to expand the breadth of its protein offerings to provide consumers more choice in that fast growing category.  Operating results for this acquisition will be reflected in the Refrigerated Foods reporting segment.