CMS said it made the purchase, effective from January 2, 2009, to replace a plant in Booneville, Arkansas, that was destroyed by fire in March.
CMS, through its Cargill Value Added Meats (CVAM) Food Service unit, is involved in further-processed meats.
Carneco Foods, owned by Lopez Foods, produces frozen ground beef patties and chubs, and case ready beef products sold to food service and retail operators.
Since the fire, CMS has been considering several alternatives to replace the lost capacity.
It said the design of the Carneco Foods plant and its product mix matches the capabilities of the Booneville facility.