SMITHFIELD, Va. (AP) — Residents in the southeastern Virginia town of Smithfield have mixed reactions to the idea that the maker of their famous cured hams may soon be owned by a Chinese company.
Smithfield Foods agreed this week to be bought by Shuanghui International Holdings for about $4.72 billion. The company is the majority shareholder in China’s largest meat processor.
The deal still needs to be reviewed by federal regulators and approved by shareholders.
Mayor and native T. Carter Williams says the company founded there in 1936 has helped the town of about 8,100 prosper. But he hopes the pending sale doesn’t compromise the town’s identity.
While some oppose ownership by a Chinese company, other residents think the corporate change could ultimately benefit Smithfield and its namesake ham.
