The question for U.S. lawmakers is: Did the Smithfield takeover represent business as usual for international commerce, or did it signal a concerted effort to control food supplies by one of … Wan Long, who at age 80 is chairman and CEO of WH Group, is the firm's largest individual shareholder with a roughly 16% stake; Forbes estimates his net worth at $1.9 billion. "We do not anticipate any changes in how we do business operationally in the United States and throughout the world.". This $7.1-billion-dollar deal, completed in 2013, remains the largest purchase of an American firm by a Chinese company. SMITHFIELD FOODS TO RESTART SOUTH DAKOTA PLANT FROM MAY 7. Founded in Smithfield, Virginia in 1936, Smithfield Foods boasts more than 40,000 U.S. employees with nearly 50 facilities across the country. It owns both Smithfield, the biggest U.S. pork food company, and Henan Shuanghui Investment & Development Co., Asia's biggest meat processing company. This material may not be published, broadcast, rewritten, or redistributed. Smithfield Foods, Inc., is a meat-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Now, the owner of Nathan's Famous hot dogs and Cook's ham is scrambling to contain one of the largest coronavirus hot spots in the U.S. Wan Long, who at age 80 is chairman and CEO of WH Group, is the firm's largest individual shareholder with a roughly 16% stake; estimates his net worth at $1.9 billion. Wan joined Henan Luohe Meat Products Processing United Factory — then a state-owned entity — in 1968, and eventually grew the business into WH Group. The Republican governor added that she has been in communication with Vice President Mike Pence and Smithfield’s CEO, and a team from the Centers for Disease Control and Prevention has arrived to help assess the situation. They are part of the nation's food supply chain and contribute to South Dakota's role feeding the country and the world,” Noem tweeted on April 15. It is owned by China’s WH Group and bans ractopamine on company-owned and contract farms. Smithfield Foods in Smithfield, Va., the largest pork producer in the world, has been bought by Communist Chinese state-owned enterprise Shuanghui Group. They are a critical infrastructure business. The acquisition of Carroll’s Foods in 1999 and Murphy Family Farms in 2000 would make Smithfield the world’s largest hog producer and give the company greater control over its supply chain. THE FACTS: Social media users began resharing the false claim following the closure of a Smithfield Foods pork processing plant in South Dakota Sunday due to hundreds of employees testing positive for coronavirus. Now, the WH Group is the largest pork producer in the world with a reported revenue of $22.38 billion in 2017. The label “Made In China” is so ubiquitous in the U.S. that we expect to see it on the majority of goods in our homes. Group, in 2013. Smithfield Foods is the country’s largest producer of pork products, and its products are sold under the popular brands Nathan’s Famous, Farmland, Eckrich, Armour and Healthy Ones, to name a few. "The linchpin in the middle is the harvest facilities, and there's a relatively small number ... of plants that actually harvest all those animals and turn it into food. Don’t Eat Tilapia Because it Comes From China-Disputed! Tilapia: Tilapia is commonly fish-farmed in China. Even more alarming is the fact that the largest provider of pork in the U.S. is owned and held by a corporation based in China. WH Group went public on the Hong Kong Stock Exchange a year later, and furthered its American presence by buying Clougherty Packing, California's largest pork processor, in 2017. “As a leading global food and protein company, WH Group is committed to continuously providing safe, nutritious and delicious food to its consumers. Smithfield Foods, Inc., is a pork producer and food-processing company based in Smithfield, Virginia, in the United States, and a wholly owned subsidiary of WH Group of China. Three China-owned Smithfield Foods meat processing plants have shut down as a result of coronavirus outbreaks among the workforce, suggesting that food … Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and porkproducer in the world. However, one place you may not expect to see it is on foods you eat every day. His son, Wan Hongjian, is now the deputy chairman and vice president of the group. In … Smithfield became a subsidiary of the publicly traded Chinese corporation after the Committee on Foreign Investment in the United States (CFIUS) said the acquisition would not endanger national security. With the Smithfield purchase, a Chinese company now owns 1 in 4 pigs raised in the U.S. Smithfield Foods was bought by China’s largest pork producer, now known as W.H. His son, Wan Hongjian, is now the deputy chairman and vice president of the group. Smithfield Foods, Inc., owns more than 500 farms on 146,000 acres of U.S. soil. Chinese-owned meat packing giant Smithfield Foods has closed two additional plants in the U.S. after coronavirus outbreaks, raising concerns about the American food supply chain. Less well known: its Chinese billionaire owner. Today, the Chinese own Armour and the famous Smithfield hams, together with the most quintessential American brand of all -- Nathan’s Famous hot dogs, with its iconic annual eating contest. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world. “Food security is national security,” Michigan Sen. Debbie Stabenow told PBS NewsHour in 2014. Amid the COVID-19 outbreak, our subsidiary Smithfield has been adopting a series of stringent and detailed processes and protocols," a spokesperson from WH Group said in a statement. All our U.S. products are made in one of our nearly 50 facilities across America,” according to Smithfield Foods’ website. A Chinese firm has also purchased Smithfield, the world's largest pork processor and hog producer. 176, the WB Group–owned Smithfield could now take steps to own the entire production chain for pork production with the least geographic distance between U.S. pork production and the Chinese market. Wan Long, Chairman and CEO of WH Group. The $4.7 billion deal is the biggest Chinese acquisition of a U.S. company to date. All our U.S. products are made in one of our nearly 50 facilities across America. The world’s largest pork producer, Smithfield Foods, was acquired by China’s Shuanghui International in 2013 from American owners for nearly $4.7 billion, making it one of the biggest purchase of an American company by a Chinese firm. 1. FAQ - Updated Privacy Policy. Legal Statement. We are a majority shareholder in Henan Shuanghui Investment & Development Co., Ltd. ("Shuanghui Development") (www.shuanghui.net), China's largest meat processing business, and own Smithfield Foods, Inc. (www.smithfieldfoods.com), a global food company. Until now, it has focused mainly on the domestic market, leaving China to Smithfield Foods. The total cluster of 733 cases makes up more than half of the state’s total coronavirus cases, which stands at 1,311, according to the South Dakota Department of Health. (AP Photo/Charlie Neibergall). “Let's be perfectly clear: a shelter-in-place order would NOT have prevented Smithfield from happening. Thanks to L.B. Outside the US, the company has facilit… In addition to owning over 500 farms in the US, Smithfield contracts with another 2,000 independent farms around the country to grow Smithfield's pigs. China also likes America’s lucrative agricultural market, and one of its companies now owns Smithfield Foods. Smithfield Foods is the country’s largest producer of pork products, and its products are sold under the popular brands Nathan’s Famous, Farmland, Eckrich, Armour and Healthy Ones, to name a few. One year ago this month, a Chinese company bought America's largest pork producer, Smithfield Foods. Summary of eRumor: This is a forwarded email that warns not to eat tilapia because it comes from China. Smithfield Foods has … that she has been in communication with Vice President Mike Pence and Smithfield’s CEO, and a team from the Centers for Disease Control and Prevention has arrived to help assess the situation. Smithfield Foods, the world’s largest pork processor and hog producer, has been making headlines for shutting down plants in three states after a rash of coronavirus cases hit its Sioux Falls, South Dakota operation. Its CEO, Wan Long, is one of China's richest men, with a fortune of more than $1.8 billion according to Forbes. The Truth: This eRumor has more to do with the controversy of consuming wild caught fish over fish that is farm raised. 3. Here are 10 commonly used foods that are made in China - but they don't have to be. Smithfield Foods, the world's largest pork processor, said on Wednesday it is actively preparing for COVID-19 vaccine distribution to employees and has medical capabilities at its U.S. plants. Shuangui, now the WH Group, was the largest pork producer in China before buying Smithfield Foods. Advertisement - story continues below What MSNBC doesn’t report is that Smithfield Foods is a Chinese owned company per Forbes: Smithfield Foods, the world’s largest pork processor and hog producer, has been making headlines for shutting down plants in three states after a rash of coronavirus cases hit its Sioux Falls, South Dakota operation. Smithfield became a subsidiary of the publicly traded Chinese corporation after the Committee on Foreign Investment in the United States (CFIUS) … Today, the Chinese own Armour and the famous Smithfield hams, together with the most quintessential American brand of all: Nathan's Famous hot dogs, with its … Smithfield Foods Locations. All rights reserved. They are part of the nation's food supply chain and contribute to South Dakota's role feeding the country and the world,” Noem. In this April 14, 2020, photo, a package of Smithfield Foods breakfast sausage sits in a shopping cart outside of a local grocery story, in Des Moines, Iowa. Profiling the world's richest and their businesses. Smithfield was purchased by the Chinese company WH Group (then known as Shuanghui Group/Shineway Group), China’s largest meat producer, for $4.72 billion in 2013. The first signs of trouble emerged at Smithfield Food on April 9, when it announced that it would suspend operations at its Sioux Falls facility for three days. (Daniel Acker/Bloomberg via Getty Images), Smithfield's CEO at the time, C. Larry Pope, said the company would continue with "business as usual — only better. ", GET FOX BUSINESS ON THE GO BY CLICKING HERE, Media overhyped coronavirus meat shortages: Pat LaFrieda, Rep. 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Pat LaFrieda Meat Purveyors CEO Pat LaFrieda discusses a labor shortage in the meat processing industry, the rise of Beyond Meat and adjusting his business model to provide meat for retailers, instead of restaurants. The longtime Virginia-based company was acquired in 2013 by Shuanghui International Holdings Ltd. (now WH Group Ltd.). Smithfield, owned by Chinese conglomerate WH Group 0288.HK, was not immediately available for comment. No Smithfield products come from animals raised, processed, or packaged in China. In 2013, Smithfield Foods was bought by the Shanghui Group, later rebranded as the WH Group, for $4.7 billion. , who took a small Chinese state-owned meat processing plant and expanded it into a multinational company with more than $24 billion in annual sales. In 2013, WH Group (formerly known as Shuanghui International Holdings) purchased Smithfield for $4.7 billion; including debt, the deal valued the firm at $7.1 billion, then the largest acquisition of a U.S. company by a Chinese business. Smithfield Foods does not import any products from China to the U.S. “Smithfield has not, does not, and will not import any products from China to the United States. WH Group is headquartered in Hong Kong. The plant, which employs 3,700 people, produces nearly 130 million servings of food per week and accounts for as much as 5% of total U.S. pork production. All Rights Reserved, This is a BETA experience. Smithfield Foods, whose South Dakota plant has become a hotspot for coronavirus cases, was purchased by Chinese tycoon Wan Long’s firm WH Group in 2013. The company says its main business is packaged meats along with fresh pork and hog production. The purchase of Smithfield Foods by China’s Shuanghui International gives the Chinese control of America’s largest meat supplier. “Let's be perfectly clear: a shelter-in-place order would NOT have prevented Smithfield from happening. Quotes displayed in real-time or delayed by at least 15 minutes. Armour & Company was an American company and was one of the five leading firms in the meat packing industry.It was founded in Chicago, in 1867, by the Armour brothers led by Philip Danforth Armour.By 1880, the company had become Chicago's most important business and had helped make Chicago and its Union Stock Yards the center of America's meatpacking industry. But critics of the deal pointed out the Chinese government's heavy involvement if not outright control of the country's industries. ©2021 FOX News Network, LLC. ", "We have established Smithfield as the world's leading and most trusted vertically integrated pork processor and hog producer, and are excited that Shuanghui recognizes our best-in-class operations, our outstanding food safety practices and our 46,000 hard-working and dedicated employees," Smithfield's CEO at the time, C. Larry Pope, said in a statement. As of 2012, Smithfield Foods had 46,000 employees, slaughtered 15.8 million pigs annually with yearly revenue of $13 billion. And I think there are some very, very tough questions that need to be answered.”, The Smithfield Foods Inc. logo is displayed on boxes at the company's pork processing facility in Milan, Missouri, April 12, 2017. Get all the latest news on coronavirus and more delivered daily to your inbox. “And I can’t imagine that the American people will feel comfortable if they wake up someday and find that half of our food processors are owned by China. by Christian Gomez "What's happened in this pandemic is we still have that bounty of livestock," CEO Ken Sullivan told "Mornings with Maria" in April. Sign up here. These days, Smithfield has been in the headlines after its CEO warned of a meat shortage when the company's Sioux Falls, South Dakota, facility was one of the first to temporarily close because of a coronavirus outbreak. South Dakota is one of the few states that has not instituted a shelter-in-place order, a decision that Governor Kristi Noem defended. On April 12, the company shuttered the facility indefinitely; as reports of coronavirus cases at the plant continued to rise, the company also announced the closure of two facilities in Wisconsin and Missouri on April 15. You may opt-out by, Smithfield Foods, the world’s largest pork processor and hog producer, has been making headlines for shutting down plants in three states after a rash of coronavirus cases hit its Sioux Falls, South Dakota operation. South Dakota is one of the few states that has not instituted a shelter-in-place order, a decision that Governor Kristi Noem defended. Does Smithfield now import products from China? Less well known: its Chinese billionaire owner Wan Long, who took a small Chinese state-owned meat processing plant and expanded it into a multinational company with more than $24 billion in annual sales. Powered and implemented by FactSet Digital Solutions. Mutual Fund and ETF data provided by Refinitiv Lipper. Email me at jwang@forbes.com, © 2021 Forbes Media LLC. Smithfield Foods. If China decided to grant preferential treatment to Smithfield imports, it would be a huge economic coup, as China is the world’s largest consumer of pork. WH Group recorded sales of more than $24.1 billion in 2019, according to its website. No Smithfield products come from animals raised, processed, or packaged in China. Smithfield Foods was founded in Virginia in 1936, and its pork products are ubiquitous in U.S. supermarkets, but the company was actually bought by WH Group, formerly known as Shuanghui International, for $4.7 billion in 2013. (Photo by Nora Tam/South China Morning Post via Getty ... [+] Images). Hong Kong firm acquires Smithfield Foods Smithfield Foods is a Virginia-based company and is the world’s largest pork processor and hog producer; it … Now, the owner of Nathan's Famous hot dogs and Cook's ham is scrambling to contain one of the largest coronavirus hot spots in the U.S. As of Thursday, 598 Smithfield employees in South Dakota’s Minnehaha County have tested positive for COVID-19, as have 135 people who were not employed by Smithfield but were in close contact with its employees.