The Popular U.S. Food Company That's Owned By China

Smithfield Foods is a U.S.food company owned (largely) by China. It is a pork producer, but not only that, it is America's biggest in delivering bacon, ham, and sausages to restaurants nationwide. The brand started in 1936 in Smithfield, Virginia, and today it is one of the largest hog producers in the United States, making up almost 23% of the U.S. hog industry. Under its portfolio, Smithfield has other brands such as Eckrich (smoked sausages, deli meats, and franks), Farmland (fresh pork, bacon, and other pork-related products), Nathan's Famous (hot dogs and a variety of deli meats), Armour (canned meats and stews) to list a few.

On May 29, 2013, China's WH Group (formerly Shuanghui) bought Smithfield for $7.1 billion (plus debt), making it the largest Chinese takeover ever of an American company. At the time, it was reported that the deal put over 146,000 acres of American farmland under foreign ownership overnight, ranking WH Group among the largest foreign owners of U.S. farmland. This fact is drawing attention currently because, as Reuters reported, the company filed for an IPO earlier in 2025, putting its ownership and operations under scrutiny.

Its largely foreign ownership was criticized as a risk, though Smithfield argued it was to grow exports to China, where demand for pork was booming. Still, it didn't sit right with the United States; could China be allowed to dictate America's food supply since it would mean, as aptly described in Reveal News, "...that a Chinese company now owns 1 in 4 pigs raised in the U.S.?" Since 2015, the controversy has yet to die down.

The U.S. government fears foreign control — and with good reason. A 2025 U.S. Senate investigation on the Saudi Public Investment Fund (PIF), revealed that Saudi Arabia was attempting to exert influence over U.S. institutions, including sports leagues. Imagine this but in the food industry. In Smithfield's case, an alarm was raised over a "foreign adversary" holding strategic farm ground and exercising influence over the pork supply chain.

Yet, Smithfield continues to source 95% of raw materials and sell the majority of products domestically, with major shares still with WH Group after the Initial Public Offering (IPO) in 2025, a situation when a company sells its shares to the public for the first time. Despite foreign ownership, Smithfield still offers American consumers its services and remains a part of the U.S. agricultural economy. Still, there are arguments. On one end there are folks worrying about the risks, but supporters talk of the economic benefits like job creation and establishing a market.

You would think the controversy would take Smithfield out of business, especially as major food chains are either closing tons of restaurants or facing bankruptcy. Yet, Smithfield Foods stands strong. The brand reported its highest revenue of $16.20 billion in 2023 and in 2024, it was $14.98 billion in revenue. 

Also, the brand is taking its business to the level. On its Initial Public Offering (IPO), Smithfield Foods and WH Group each offered 17.4 million shares (a total of $34.8 million shares) at $23 to $27 per share. Currently, WH Group has approximately 90% of the shares after the IPO, which was to raise funds for  infrastructure and automation. The underwriters of the IPO — Morgan Stanley, BofA, and Goldman Sachs — pitched the deal. Moving forward, Smithfield is doubling down on its packaged meats at Eckrich, Nathan's Famous, and Farmer John, as sales of the product grew by 1.2%, and fresh pork sales grew by 4.9% in Q1 2025.