Friday, December 20, 2013

Where Did Your Bacon and Eggs Come From This Morning?

According to Joel Backaler, a contributor to Forbes, Chinese companies go global because of government encouragement as well as business necessity.  He goes on to say, "However, it takes more than international ambitions alone to succeed in developed markets."

The article, the first in a six-part series, begins with:
What did you eat for breakfast this morning? You may be surprised to learn which country it came from…or at least who owns the company that made it. If you had bacon and eggs and live in the U.S., you likely ate Smithfield Foods’ bacon—now owned by China’s Shuanghui International after its $4.7 billion acquisition of the Virginia-based pork producer in September 2013. If you live in the U.K., perhaps you ate a bowl of Weetabix cereal, which was acquired in May 2012 by China’s Bright Food for £1.2 billion (approximately $1.9 billion).
Read the entire article:  Why Do Companies Want to Go West?

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