Bringing The World Home To You

© 2021 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Business & Economy

The Smithfield, Shuanghui Pork Deal Is Done

Smithfield Foods
MPR
/

Pork processor Smithfield Foods has officially been sold.  It is reportedly the largest purchase ever of a US company by a Chinese company.

Today 96% of Smithfield Foods shareholders voted to sell the pork processor to Shuanghui International Holdings Ltd. of Hong Kong.  The deal is worth $7.1 billion.

Smithfield, headquartered in Virginia, owns the largest hog processing plant in the world, based in Tar Heel, North Carolina.   Thousands of hog farmers and factory workers in North Carolina are employed by the company.

Shuanghui has been under review amid food safety problems.  It’s the largest meat producer in China

Smithfield President and CEO Larry Pope said back in May, when the deal was first announced, that Smithfield will keep its name, hog farmers and management team.

The Committee on Foreign Investment in the United States has already approved the deal.

Related Stories
More Stories