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Shuanghui buying Smithfield Foods for about $4.72B
www.myfoxny.com ^ | 05-29-2013 | By MICHAEL FELBERBAUM

Posted on 05/29/2013 6:36:26 AM PDT by Red Badger

Edited on 05/29/2013 6:40:15 AM PDT by Admin Moderator. [history]

RICHMOND, Va. - Chinese meat processor Shuanghui International Holdings Ltd. has agreed to buy Smithfield Foods Inc. for approximately $4.72 billion in a deal that will take the world's biggest pork producer private.

Hong Kong-based Shuanghui owns a variety of global businesses that include food, logistics and flavoring products and is China's largest meat processing enterprise. Smithfield owns brands such as Armour, Farmland and its namesake.


(Excerpt) Read more at myfoxny.com ...


TOPICS: Business/Economy; Culture/Society; US: Iowa; US: Virginia
KEYWORDS: agriculture; china; food; pork; shuanghui; smithfield; sourcetitlenoturl; virginia
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1 posted on 05/29/2013 6:36:26 AM PDT by Red Badger
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To: Red Badger

So now we can look forward to plastic, toxic ingredients, and other food contaminants?

Sweet!!


2 posted on 05/29/2013 6:38:56 AM PDT by Mr. Quarterpanel (I am not an actor, but I play one on TV)
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To: Red Badger

You can thank the Fed and ethanol mandates for a lot of the corn price pressure that Smithfield is under right now. There’s way too much corn going in our gas pumps instead of in various bellies (pork, human, whatever).

Still, as a Virginia kid who grew up on Smithfield (and Gwaltney) bacon, it’s sad to see a legendary Virginia icon get bought out by a Chicom company.

}:-)4


3 posted on 05/29/2013 6:39:07 AM PDT by Moose4 (SHALL. NOT. BE. INFRINGED.)
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To: Red Badger

First, the ChiComs have bought up our natural resources. Now they are buying up our food. They have plenty of Made in the USA money to buy anything they want.


4 posted on 05/29/2013 6:39:22 AM PDT by txrefugee
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To: txrefugee

I can’t say that I blame them. They want to preserve the value of their dollars before they become toilet paper........


5 posted on 05/29/2013 6:42:03 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Red Badger

Interesting.... Is this a move to get better quality food to China at manufacturer’s cost since they have destroyed so much of their farmland through inadequate environmental protections? Or is it a move to place their own locally grown pork products into the American food marketplace?

In either case I see some “unintended consequences” looming on the horizon.


6 posted on 05/29/2013 6:42:51 AM PDT by The Working Man
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To: txrefugee

I promise to be more selective when shopping for my pork chops.


7 posted on 05/29/2013 6:42:53 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: Mr. Quarterpanel

Sweet and sour pork!........


8 posted on 05/29/2013 6:43:36 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: FRiends
LET'S FIRE THIS THING UP,
AND SEND THIS FREEPATHON TO GREEN!



Click the Pic
Honk if you love Free Republic


9 posted on 05/29/2013 6:44:14 AM PDT by deoetdoctrinae (The Old White Flag Republicans can go straight to He// and take their pal Obama with them!)
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To: The Working Man

They want our pork raising technorrigy!......


10 posted on 05/29/2013 6:45:04 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Red Badger

Soon Smithfield’s new motto will be “we glow in the dark”.


11 posted on 05/29/2013 6:45:13 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Georgia Girl 2

Green Energy!......It’s for the children........


12 posted on 05/29/2013 6:46:23 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Red Badger

They supply some of my plant’s raw material. Not good.


13 posted on 05/29/2013 6:46:48 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: Mr. Quarterpanel
"Smithfield owns brands such as Armour, Farmland and its namesake."

So now we can look forward to plastic, toxic ingredients, and other food contaminants? Sweet!!


14 posted on 05/29/2013 6:46:55 AM PDT by Alex Murphy
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To: Moose4

I agree. Smithfield is a great corporate and responsible member of Smithfield Virginia. We spend a long weekend there once a year at Smithfield Station and love the community.


15 posted on 05/29/2013 6:48:30 AM PDT by Portcall24
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To: Red Badger

Smithfield Foods Inc. has a very nasty habit of hiring illegal immigrants. They’ve had many ICE raids. This company isn’t the greatest to begin with. I’ll just continue to make my meat and egg purchases from my local farmer.


16 posted on 05/29/2013 6:49:03 AM PDT by goodwithagun (My gun has killed fewer people than Ted Kennedy's car.)
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To: Red Badger

all your pigs belong us


17 posted on 05/29/2013 6:49:12 AM PDT by Buckeye McFrog
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To: redgolum

‘Raw material’?.........


18 posted on 05/29/2013 6:50:16 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Moose4
You can thank the Fed and ethanol mandates for a lot of the corn price pressure that Smithfield is under right now.

ROFTL - at first glance, I thought that said "Fred and Ethel mandates"


19 posted on 05/29/2013 6:50:53 AM PDT by Alex Murphy
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To: Red Badger

Sky is farring, sky is farring...


20 posted on 05/29/2013 6:51:18 AM PDT by arderkrag (An Unreconstructed Georgian, STANDING WITH RAND.)
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To: Red Badger

Company by company, building by building, acre by acre, military secret by military secret. One day we will wake up and find out we lost everything except our ability to be slaves.


21 posted on 05/29/2013 6:52:06 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: Eric in the Ozarks

22 posted on 05/29/2013 6:52:29 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Alex Murphy

Fred & ETHYL........


23 posted on 05/29/2013 6:52:58 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Dixie Yooper
Heinlein predicted it.........in 1941.....
24 posted on 05/29/2013 6:56:09 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Dixie Yooper

http://en.wikipedia.org/wiki/Sixth_Column


25 posted on 05/29/2013 6:56:50 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Red Badger

One of my long time customers in Sioux Falls.


26 posted on 05/29/2013 6:58:01 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: Red Badger

Oh well. Scratch one brand of meats I will not be buying anymore at the local deli counter. Sad, as they were the most affordable.


27 posted on 05/29/2013 6:59:58 AM PDT by SengirV
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To: Portcall24

Being a Virginia boy myself and having grown up in the area, I too have many fond memories of the area. In fact, my parents celebrated their 50th wedding anniversary at Smithfield Station. That said and before we get maudlin about this, it’s just another example of capitalism at work. If someone had offered me an immediate 31% profit on my money, I’d have a hard time turning it down too.


28 posted on 05/29/2013 7:01:22 AM PDT by tgusa (gun control: deep breath, sight alignment, squeeze the trigger .......)
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To: Red Badger

Heh! Good one.

Seriously though, The Chinese don’t do acquisitions, will-nilly, There is a plan, usually long-term some times Generationally long-term. A thought that comes to mind is slowly moving the children of upper-ups to the U.S. to “manage” their new holding and then moving more of the own “experienced Farmers” here to do the work on the farms they have been buying up because of out own INSANE Death-taxes that destroy family Farms and businesses on a regular basis.

In any case we as outside observers will have to wait and see.


29 posted on 05/29/2013 7:04:41 AM PDT by The Working Man
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To: Red Badger
What was science fiction in 1949, is now on the verge of becoming historic fact.
30 posted on 05/29/2013 7:07:12 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: tgusa
Back in the 1970s, the Japanese were buying up American hotels, golf courses and manufacturing companies. They spent incredible amounts of money and in the case of Firestone, they paid $75/share for an essentially bankrupt tire maker.
This could be history repeating itself...
31 posted on 05/29/2013 7:08:58 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: Eric in the Ozarks

Could be, although Smithfield Foods has been historically strong. What is most interesting to me is that the plan with the acquisition is to take them private. That could be either very good or very bad. We will see.


32 posted on 05/29/2013 7:11:31 AM PDT by tgusa (gun control: deep breath, sight alignment, squeeze the trigger .......)
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To: tgusa

Well stated all around. And who knows perhaps they will provide good leadership as even more dollars flow out of this country toward China.


33 posted on 05/29/2013 7:12:12 AM PDT by Portcall24
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To: Portcall24

Agree.

I was in Smithfield this past weekend visiting family.

The Luter family has always been generous to the town, with buildings, performing arts center, fire and police equipment, etc.

A quaint little town...


34 posted on 05/29/2013 7:14:05 AM PDT by NOVACPA
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To: Moose4
Still, as a Virginia kid who grew up on Smithfield (and Gwaltney) bacon, it’s sad to see a legendary Virginia icon get bought out by a Chicom company.

Ditto. I hate to see a part of Virginia's history go to the Chinese.

35 posted on 05/29/2013 7:14:51 AM PDT by ScottinVA ( Liberal is to patriotism as Kermit Gosnell is to neonatal care.)
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To: NOVACPA

The Smithfield Wine and Brew Fest was held last month... a GREAT time!


36 posted on 05/29/2013 7:16:01 AM PDT by ScottinVA ( Liberal is to patriotism as Kermit Gosnell is to neonatal care.)
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To: tgusa
When the first boatloads of S. Viet Namese arrived in the US it was said each refugee was issued a map of Sioux Falls, SD and the keys to a used Trans Am...
37 posted on 05/29/2013 7:17:43 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: Red Badger

The desire to avoid investment loss or pure profit from the sale of an American business to foreign interests has gotten way out of hand.
One of the largest food processors in America will now be owned by a foreign nation.
Does anyone see the inherent danger in this?


38 posted on 05/29/2013 7:19:48 AM PDT by txnativegop (Fed up with zealots)
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To: Red Badger

Well, there goes Paula Deen’s hams!


39 posted on 05/29/2013 7:26:15 AM PDT by Terry L Smith
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To: Dixie Yooper

I just finished reading that book a couple of days ago. It’s chilling in how prescient he was........


40 posted on 05/29/2013 7:57:02 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Eric in the Ozarks

There is a local real estate developer here that came here as a 14 year old boy, ALONE, penniless, as a refugee on one of those boats. He is now a multi millionaire...........


41 posted on 05/29/2013 7:59:17 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Red Badger

Smithfield had more than one raid for illegals. Their spokesperson, Paula Deen, never said a word about it and continued in their employement. She also promised at each campaign run to have Moo and her opponents’ wives on her show but each time only had Moo. That says volumes. Can’t stand her.


42 posted on 05/29/2013 8:08:07 AM PDT by bgill (The problem is...no one is watching the Watch List!)
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To: Eric in the Ozarks

Yes, there was angst at the time about the purchase of, IIRC, Rockefeller Center. Then someone published words to the effect of “what are they going to do, move it to Japan? No, so no big deal.” I believe that was followed up the the sentiment that they will lose their shirts just like everyone else. Who knew those words were prophetic?


43 posted on 05/29/2013 8:11:01 AM PDT by NonValueAdded (Unindicted Co-conspirators: The Mainstream Media)
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To: Red Badger

WOW!


44 posted on 05/29/2013 8:16:27 AM PDT by traderrob6
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To: Mr. Quarterpanel

Whatever leftover poisons they can’t use in petfoods, will now go into human-consumption Smithfield products. Nice.


45 posted on 05/29/2013 8:18:43 AM PDT by carriage_hill (Guns kill people, pencils misspell words, cars drive drunk & spoons make you fat.)
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To: goodwithagun

Ditto that.


46 posted on 05/29/2013 8:20:54 AM PDT by carriage_hill (Guns kill people, pencils misspell words, cars drive drunk & spoons make you fat.)
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To: bgill; Terry L Smith

She'll havta change her name to Paura Deen!.....

47 posted on 05/29/2013 8:22:29 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: Eric in the Ozarks

Worked for Smithfield for a short time as a pork desk manager, HATED IT!


48 posted on 05/29/2013 8:25:54 AM PDT by traderrob6
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To: Eric in the Ozarks
Back in the 1970s, the Japanese were buying up American hotels, golf courses and manufacturing companies.

Apples and oranges. The difference is Japan was not a Communist dictatorship four times our size, the Globalists had not moved practically our entire manufacturing and industrial base to Japan, Japan had no military to speak of.

49 posted on 05/29/2013 8:27:49 AM PDT by Count of Monte Fisto
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To: Red Badger

I sent this to my wife and she replied folks in Smithfield should probably keep their cats and kittens indoors for the forseeable future. If the mouse population starts to climb we’ll know the feral cat population has declined.


50 posted on 05/29/2013 9:16:21 AM PDT by Portcall24
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