7 U.S. Companies You Didn’t Know Were Owned By China

Image By Nyttend From commons.wikimedia.org

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.

RELATED POST: President Biden To Hold Climate Talks With President Xi Jinping

PREV1 ... 67 8
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

9 thoughts on “7 U.S. Companies You Didn’t Know Were Owned By China”

  1. Back in the early 1970’s I was working for a local variety store chain as a receiving clerk in Tacoma Washington. At that time we were getting coupon book ad shipments from China in shipping containers. I know from personal experience that China has been using the United States for many years now. (November 2021)

  2. Barbara A Perkins

    This is crazy, China will just walk right into America and take over without a shot. We have a lame brain President who is in bed with China. He and his son owe china BIG TIME. We are in a country that is on the downslide, thanks to Biden. People need to get back to church and God and start standing up against this regime that is destroying out wonderful nation. The press gives Biden a pass every time he messes up, what a joke. Trump was a ten times better President. Our Republicans better start standing up for the American people or we will definitely be a Communist Nation. Nancy Pelosi, Chuck Schumer, AOC, etc. all have to go, including the idiot Cheyney and Romney, both of them are communists.

    1. You are a Republican shill. You only care about your Orange Dictator. He spews lies and you repeat them. Get lost. We are alive and well and coming after him! He will have a jump suit to match his hair color.

  3. More stupidity by greed driven U.S. Corporations who sell their souls, & ours, to our enemies for a few pieces of silver. The U.S. politicians also, who approve this treason, think ahead two to five years whereas the Chinese plan one hundred to five hundred years ahead to achieve their world domination.

  4. Downside because of Biden ? The whole country went down in 10 months ?
    Donny Bonespurs loves these authoritarian leaders.
    If Bunkerboy or somebody like him (Desantis) gets elected you’ll never have another presidential election again.

  5. This is very scary. We as a country are being “hoist on our own petard” as they used to say. It meant blown up by our own bomb. Pretty close to what’s happening in they rest of our “currently” free country. Our open society and first Amendment have permitted this to happen. If we do not change our policy at the highest level it will continue and the United States will no longer exist as we know it.

  6. If you remember, the last thing done by president Richard Nixon before he quit in order to avoid impeachment, was to fly to China to sign a trade agreement
    Our country has been on the sorry end of that agreement ever since. This was done to destroy the American worker unions and enhance corporate profits by using cheap Chinese labor. I avoid buying anything made in China, which in many cases is difficult to do.

Leave a Comment

Your email address will not be published. Required fields are marked *