Smithfield Foods, Inc. – Company Overview
|Company||Smithfield Foods, Inc.|
200 Commerce Street, Smithfield, Virginia 23430
|CEO||Kenneth M. Sullivan|
|CFO||Glenn T. Nunziata|
|Type||Wholly owned independent subsidiary|
|Founder||Joseph W. Luter and Joseph W. Luter, Jr..|
|NYSE stock symbol||SFD|
|Net Sales||$14,438.4 million USD (2015)|
|Operating profit||$793.8 million USD (2015)|
|Net income||$452.3 million USD (2015)|
|IR contact number||+852 29220701|
Smithfield Foods, Inc. is America’s largest pork producer and processor, headquartered in Smithfield, Virginia.
The company operates over 26 facilities across the U.S. and runs the largest slaughterhouse and meat-processing plant in the world, with a presence in 12 countries.
The history of the company traces back to a small packing plant in Smithfield, Virginia which was operated by the Luter family in 1936. The family business proved to be a significant success and it eventually led to the formation of Smithfield Foods, which quickly became one of the main meat producers in the US.
A definitive merger agreement with Shuanghui International Holdings Limited was announced by Smithfield Foods on September 26, 2013.
Shuanghui, now named WH Group Limited (a privately owned meat processing company headquartered in Luohe, Henan, China), bought the company out for $34 per share or US$4.72 billion total – representing the biggest Chinese takeover of an American company ever.
Smithfield’s common stock on the New York Stock Exchange (NYSE) ceased to be publicly traded following the acquisition and it is now a wholly owned independent subsidiary of WH Group Limited, operating as Smithfield Foods.
Some of Smithfield Food’s most notable brands include: Smithfield, Eckrich, Farmland, Armour, Cook’s, Gwaltney, John Morrell, Kretschmar, Curly’s, Carando, Margherita and Healthy Ones.
Smithfield Foods, Inc. – Financial Results
|Key figures (in millions of USD)||2015*||2014*|
|Cash and cash equivalents at beginning of period||$433.5||$193.4|
|Cash and cash equivalents at end of period||$704.9||$433.5|
*For the years ended January 3, 2015 and December 28, 2014
Source: “Smithfield Foods, Inc. – 2015 Form 10-K”