Smithfield Foods
Abstract
Smithfield Foods is the world’s largest pork processor and hog producer, with revenues approaching $12 billion in fiscal year 2007. In the United States, Smithfield is also the leader in turkey processing, cattle feeding, and several packaged meats categories as well as the fifth-largest beef processor. From national brands and regional powerhouses in the U.S. to some of the best-known European brands, Smithfield Foods packages meats that are purchased by retail, foodservice, and deli customers (2008).
Headquartered in Smithfield, Virginia, longtime Chairman and CEO, Joseph W. Luter III, vision was to drive down cost and push up sales. Luter introduced a vertical integration strategy to control all aspects of a product’s development, manufacturing, and distribution in 1981 and to date; the company has completed 30 acquisitions. In the meat industry, vertical integration refers specifically to maintain control over both livestock production and meat processing......
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Approximate Word Count: 1647
Approximate Pages: 7 (250 words per double-spaced page)
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