Spinoffs & Takeovers Hotline – Friday, January 31, 2025
Article Excerpt
SMITHFIELD FOODS INC., $21.50, symbol SFD on Nasdaq, launched its IPO and began trading on Nasdaq this week.
Chinese owner WH Group priced the shares at $20 each for their initial public offering. It had originally aimed to offer shares at $23 to $27 apiece.
Smithfield was a public company until it was acquired in 2013 for $5 billion by WH Group. After the IPO, WH Group will continue to own about 93% of Smithfield.
Smithfield is a Virginia-based provider of value-added packaged meats and fresh pork. Founded in 1936 in Smithfield, Virginia, it has approximately 36,500 employees in the U.S. and Mexico. Brands include Eckrich, Nathan’s Famous, and Farmer John.
The company has three operating segments: Packaged Meats (41% of revenue), Fresh Pork (39%) and Hog Production (20%). The company sells its products in retail and food service, distributing them to all 50 states and the export market.
Smithfield is the second-largest branded packaged meats company in the U.S. by volume. The 25 packaged meats…
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