Smithfield Foods
Smithfield Foods’ history goes all the way back to 1936. Originally known as the Smithfield Packing Company, Joseph W. Luter, along with his son, would establish a pork producing and food processing company that today, has become the biggest pig and pork producer in the world.
A deal would go down in 2013 that was four years in the making and would see China’s largest meat producer, WH Group (previously known as Shuanghui Group), buy Smithfield for $34 per share, which equates to about $4.72 billion. They would also take any existing debt they had on their books, making the total deal worth around $7.1 billion.
Before the deal could be finalized, approval would not only be needed from the Smithfield shareholders but the Committee on Foreign Investment in the United States had to give it their OK, which inevitably they did. Once it was finalized it would be the biggest acquisition of an American firm by a Chinese company.
Many were worried about jobs and the future of the company but in just 3 short years, the WH Group managed to increase profits by an impressive 17%. This was done in no small part to the increased expansion of Smithfield Foods, as they would spend an additional $145 million to buy California-based Clougherty Packing from its parent company Hormel Foods.
10 thoughts on “7 US Companies That Are Chinese Owned”
Wow! GE and Motorola plus Walldorf and AMC are big surprises to me!
Wow! GE — non would bigger as a surprise to me vs losing Motorola, Waldrof, and AMC.
Why is the government so worried about Tiktoc? Seems like China owns or controls a very large portion of American commerce. Its true vey little is made in America with American products.
China is A very Dangerous enemy. The land and Companies owned in the U.S.A. and other countries will amaze you. The have a long term plan. Make no mistake… If the United States does not wake up. Our next war will be fighting Scum China. A pathetic communist Country. Trump is here to stop the attack on The United States by scum China. Thank God The Brain dead Biden family is gone baby gone.
Yikes ! ! ! (Has anyone told the President?)
Yikes ! ! !
How totally disgusting that China owns any of us
Many American & European companies located in Hong Kong, China…are owned by British, Urasians & American companies.
Why the brouhaha about Tic Tok when China already owns Motorola? China can already see what we are communicating. Hear all our conversations and know our financial information including back accounts , bank numbers, when we are in dept of out of debt. We communicate our entire lives on Motorola. Police Departments and Government Agencies.
The country that’s sending Fentanyl to the U.S. to kill us and probably stockpiling on the land they purchased now has a way to put it in our food. How special!