Exhibit 99.1

       SMITHFIELD FOODS, INC. COMPLETES ACQUISITION OF JOHN MORRELL & CO.


        SMITHFIELD, Virginia, December 21, 1995 - Joseph W. Luter, III,
Chairman and Chief Executive Officer of Smithfield Foods, Inc. (NASDAQ-SFDS)
today announced that the acquisition by the Company of John Morrell & Co. from
Chiquita Brands International, Inc. has been completed. The Company paid $58
million for John Morrell & Co., consisting of $25 million in cash and $33
million in Smithfield Foods common stock. The Company issued 1,094,273 shares of
its common stock in connection with the acquisition. The Company assumed all of
John Morrell's liabilities.

        Mr. Luter said that John O. Nielson, President and Chief Operating
Officer of Smithfield Foods, Inc., will assume the additional duties of
Chairman and Chief Executive Officer of John Morrell & Co. Joseph B. Sebring
will continue as President and Chief Operating Officer of John Morrell and
will report to Mr. Nielson.

        Smithfield Foods, Inc. is a leading hog producer, pork processor and
fresh pork and processed meats marketer with a significant market presence in
the Mid-Atlantic and Southeastern U.S., and increasing market positions in other
regions of the country. The Company's brands include Smithfield, Luter's
Gwaltney, Patrick Cudahy, Smithfield Lead Generation Pork, Esskay, Hamilton's,
Valleydale, Mash's, Jamestown, Realean, Patrick's Pride, Great and others.
John Morrell markets a wide variety of branded processed meats under names that
include John Morrell, Dinner Bell, Kretschmar, Rath Black Hawk, Tobin's First,
Peyton's and Rodeo.


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SMITHFIELD FOODS, INC. 501 NORTH CHURCH STREET SMITHFIELD, VIRGINIA 23430
TELEPHONE 804 357 4321