In 2013, China's WH Group, then known as Shuanghui International, acquired Smithfield Foods, the largest pork producer in the U.S., for $4.7 billion. This deal was the biggest Chinese purchase of an American company at the time, and it included over 146,000 acres of U.S. farmland, making WH Group a significant foreign owner of American agricultural assets. Despite the change in ownership, Smithfield continues its operations across the U.S., with over 40 facilities and a strong presence in international markets. The acquisition has not changed the daily management of the company, as U.S. executives still oversee its operations. Smithfield, headquartered in Virginia, is now preparing for a public offering in 2025, aiming to raise up to $940 million. This IPO could be one of the largest in the U.S. food sector since 2021, though WH Group will maintain majority control after the offering. 🤬