US pork processor Smithfield Foods has penned an exclusive deal to sell meat on Chinese website JD.com, expanding its presence in the world’s largest consumer market.
By Ildiko Szalai, senior analyst - Food, Euromonitor International
Chinese company Shuanghui Group recently announced the acquisition of US meat business Smithfield. Ildiko Szalai, an analyst with Euromonitor International, reflects on the reasons behind the deal.
US processor Smithfield Foods has reported strong fresh pork earnings in the second quarter, despite a 91% drop in overall earnings as a result of a debt extinguishment charge.
