WH Group to Spin Off Smithfield Foods, List on U.S. Market

July 16, 2024

Smithfield, Va.-based U.S. and Mexico pork processor was originally acquired by the Chinese company in 2013, and will remain a subsidiary after the spin off.

Andy Hanacek

Global meat and food company WH Group Ltd. intends to spin off Smithfield Foods and list it separately on the New York Stock Exchange or the Nasdaq Stock Market, according to an announcement from the Hong Kong-based global meat and food company.

Smithfield Foods’ U.S. and Mexico operations would be included in the move, though the pork processor is expected to remain a subsidiary of WH Group after the listing on the U.S. market. Its financial results would continue to be consolidated into WH Group’s financial results, the announcement noted.

Late last week, Bloomberg had reported that WH Group had selected banks to handle a U.S. share sale for the Smithfield business, and this announcement confirmed the move was in the works.

Smithfield was acquired in 2013 by WH Group, then known as Shuanghui International Holdings Ltd. In 2023, Smithfield registered more than $14 billion in revenue for the company. The Smithfield, Va.-based subsidiary recently announced the closure of its Altoona, Iowa, processing plant as well.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.