Smithfield Foods, Inc.
, is a meat-processing
company and wholly owned subsidiary
of WH Group
of China. Founded in 1936 as the Smithfield Packing Company
in Smithfield, Virginia
, by Joseph W. Luter and his son, the company is the largest pig
producer in the world. In addition to owning over 500 farms in the United States, Smithfield contracts with another 2,000 independent farms around the country to grow Smithfield's pigs. Outside the U.S., the company has facilities in Mexico, Poland, Romania, Germany and the UK. Globally the company employed 50,200 in 2016 and reported an annual revenue of $14 billion. Its 973,000-square-foot meat-processing plant in Tar Heel, North Carolina
, was reported in 2000 to be the world's largest, processing 32,000 pigs a day.
Then known as Shuanghui Group, WH Group purchased Smithfield Foods in 2013 for $4.72 billion, more than its market value. It was the largest Chinese acquisition of an American company to date. The acquisition of Smithfield's 146,000 acres of land made WH Group, headquartered in Luohe
province, one of the largest overseas leasers of American farmland. Read more...