Complex sentence: The Farmland brand and its slogan "Good Food From the Heartland" are now owned by Smithfield Foods, the largest pork producer and processor in the world, but Farmland Foods, Inc. operates independently and continues to market meat products under the "Farmland" brand.
Split into simpler sentences: The Farmland brand and its slogan "Good Food From the Heartland" are now owned by Smithfield Foods, the largest pork producer and processor in the world. While owned by Smithfield Foods, Farmland Foods, Inc. operates independently and continues to market meat products under the "Farmland" brand.