George's purchases meatpacker Campos
Springdale-based and family-owned George's Inc. on Monday announced the purchase of a Tennessee meatpacker that makes turkey, beef and pork products.
The acquisition of Campos Foods, a subsidiary of Oklahoma City-based Lopez Foods Inc., is expected to diversify the chicken producer's protein portfolio, said Charles George, co-chief executive officer of George's, in a news release.
"Campos Foods fits as part of our overall growth strategy and continued focus on adding value for our customers and stakeholders," George said.
Located in Caryville, Tenn., about 30 miles north of Knoxville, the Campos Foods plant employs 285 people.
"We are excited to add their capabilities to our existing operations," said Carl George, co-executive officer of George's, in a written statement.
The privately held company did not disclose terms of the agreement.
-- Nathan Owens
Waltons sell nearly 6 million trust shares
Members of the Walton family sold nearly 6 million shares of stock in multiple transactions over a four-day period earlier this month.
The shares sold were in a trust established by Walton Enterprises LLC in 2015 to help offset potential increases beyond the 50 percent ownership level the family tries to maintain in Wal-Mart stock. The family put 194 million shares -- or about 6 percent of Wal-Mart's outstanding shares -- into the trust.
The Waltons also have said they intend to use some of the shares to fund charitable contributions.
The most recent transactions came as shares of Wal-Mart stock reached record levels and netted the family about $582.2 million, according to a filing with the U.S. Securities and Exchange Commission.
The Walton family has about 92.8 million shares remaining in the trust after the latest stock sale.
-- Robbie Neiswanger
State index off 0.37; six stocks advance
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 0.37 to 391.40 Monday.
"U.S equities were mixed on 'Cyber Monday' as investors remained focused on economic and tax reform updates," said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock.
Tyson shares reached a 52-week high.
Five other stocks rose, 10 fell, and two were unchanged.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 11/28/2017
Print Headline: News in brief