A package for a product having a multi-purpose valve includes a valve having a tubular body that defines a recess between open and closed ends, and the closed end includes an aperture for venting a pressurized gases therethrough. A retaining member operative for snap-fit engagement with the tubular body is spaced from the closed end of the tubular body. A breathable membrane element is positioned between the tubular body closed end tubular body and the retaining member. The breathable membrane element is positioned adjacent the closed end for respiring a gas from the product through the membrane to maintain a predetermined a concentration of oxygen and a predetermined concentration of carbon dioxide within the package. The membrane element is displaceable from the closed end to allow pressurized gases to pass through the closed end aperture during heating of the package.