Joe Luter III, Who Built Smithfield Foods Into a Meatpacking Power, Dies at 86

Core Insights - The CEO transformed Smithfield into the largest pork processor in the U.S. through strategic acquisitions and deals before selling the company to a Chinese firm [1] Group 1: Company Overview - Smithfield is recognized as the largest pork processor in the United States, a position achieved through a series of successful mergers and acquisitions [1] - The company's growth strategy was heavily reliant on the no-nonsense leadership style of its CEO, who focused on operational efficiency and market expansion [1] Group 2: Industry Context - The acquisition of Smithfield by a Chinese company highlights the increasing globalization of the food processing industry, particularly in the meat sector [1] - The transaction reflects broader trends in the industry where domestic companies are seeking international partnerships to enhance their market reach and operational capabilities [1]