On May 29, Shuanghui International Holdings Ltd., China’s largest meat processing company, announced its acquisition of the Smithfield Foods Inc., the United States’ and the world’s largest hog producer and pork supplier. Shuanghui will reportedly acquire all of Smithfield’s outstanding shares for 7.1 billion USD.
The spokesperson for Shuanghui said that the acquisition will not disrupt the Smithfield brand’s management, employees or plant locations, noting that the main benefit of the deal is expanding Smithfield’s offering of products to China through Shuanghui’s distribution network.
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Keywords: Shuanghui buys Smithfield
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