Senate Hearing on Smithfield Acquisition

smithfield-stabenowThe Senate Agriculture Committee on Wednesday, July 10, took a look at the proposed acquisition of Smithfield Foods by Chinese company Shuanghui International.

Committee Chair Debbie Stabenow (D-MI) says the sale raises many questions about issues such as food safety, protection of intellectual property, and increased foreign ownership of the U.S. food supply. Senator Debbie Stabenow, opening remarks

smithfield-popeSmithfield Foods President and CEO C. Larry Pope was first to testify at the hearing, attempting to ease senators’ concerns about the pending purchase by noting that reaction from the agriculture industry has been very positive and stressing that “It will be the same old Smithfield, only better.” Smithfield CEO Larry Pope testimony