Smithfield Foods is now independent from WH Group of China now that it has successfully launched on the United States stock market where its shares sold for $8.1 billion US.
Before the listing, the company carved out its European business, ended contracts with some U.S. hog farms and shut a California pork plant.
“We believe that really the heavy lifting is done,” chief executive officer Shane Smith said. “This next phase will be focused on growth.”’
JBS once owned J.M. Schneider Inc. of Kitchener, but sold it to the McCain family which merged it into Maple Leaf Foods.
I wonder if Smithfield will make a bid to buy Maple Leaf Foods?
