ConAgra Sold

The meat packing plant involved in the second largest beef recall in US history has been sold.

A Texas investment group and a Vail partner are the new owners of of ConAgra Foods' fresh beef and pork operations.

It's a $1.4 billion deal.

The new operation will be called Swift and Company, and it will be a supplier toNebraska-based ConAgra.

The deal was announced in May and was expected to close in August.

However, the agreement was put on hold when ConAgra Beef had nearly 19 million pounds of ground beef recalled because of E-coli
contamination at its plant in Greeley.

ConAgra chairman Bruce Rhode says the sale is part of a
long-term strategy to focus on branded and value-added food