In conjunction with its fourth quarter and full-year financial earnings release, meat giant Smithfield Foods Inc., Smithfield, Va., said it offered to purchase its joint venture partner's 51 percent ownership interest in Butterball, LLC.

Brazilian meat processor Marfrig Alimentos S.A., Sao Paulo, said it agreed to purchase U.S. foodservice  protein supplier Keystone Foods LLC, West Conshohocken, Pa., for $1.26 billion.

The Associated Press said country music legend Jimmy Dean, an entrepreneur also known for his sausage brand, died on Sunday.

Diversified bakery, meat and prepared foods giant Sara Lee Corp., Downers Grove, Ill., said Chairman & CEO Brenda Barnes, on a temporary medical leave of absence, is recuperating from a stroke.

Food and agriproducts giant Cargill Incorporated, Minneapolis, said its U.S. meats business plans by June 2011 to build a $14.7 million culinary center and pilot plant in Wichita, Kan.

Sometimes, there’s more than meets the eye when it comes to hot dogs. That's how Farmland Foods Inc., Kansas City, introduces its Farmland Gold Medal Turkey Cheddar Hot Dog for foodservice operators.

Bakery food and ingredients giant Dawn Food Products Inc., Jackson, Mich., plans by September to close its frozen muffin and cinnamon roll plant in Crown Point, Ind.

Private investor Littlejohn & Co., LLC, Greenwich, Conn., said it completed the recapitalization of CTI Foods Holding Co., LLC, a Wilder, Idaho-based meat processor.

Keystone Foods’ KeySTAR program puts spotlight on plant-level sustainability.

Tennessee Valley Ventures (TVV), a Southeast lower middle-market private equity firm, said it sold two of its food processing investments -- Albertville Quality Foods and Southern Quality Meats -- to an affiliate of H.I.G. Capital, LLC.