WH Group
| WH Group Limited
|
|
|---|---|
 |
|
| legal form | Limited |
| ISIN | KYG960071028 |
| founding | 1958 |
| Seat |
|
| management | Wan Long, Chairman and CEO |
| Number of employees | 110,000 |
| sales | 22,379,000,000 USD |
| Branch | Food production, agribusiness |
| Website | www.wh-group.com |
| As of December 31, 2017 | |
WH Group Limited (until January 2014 Shuanghui International Holdings Limited , also appeared internationally as Shineway Group ) is an international group in the meat industry with roots in the People's Republic of China . He is the largest pork producer and processor in the world (as of 2014).
Business areas, market position, key figures
The main business areas are packaged meat, fresh meat and pork production, further areas are food flavors and transport logistics.
With 1.11 million sows (2014), the WH Group is the largest pig producer in terms of volume and with 47.2 million slaughterings per year it is also the largest pork processor in the world as well as the market leader in China and the USA, which was also in large parts of Europe until 2015.
structure
The group (as of 2015) consists of the subgroups Henan Shuanghui Investment & Development (Asia, mainly China) and Smithfield Foods ( mainly USA).
The legal seat of WH Group Limited is registered for tax reasons in the Cayman Islands , a British overseas territory. The Group's operational headquarters are located in Luohe , in the Chinese province of Henan .
history
Beginnings
The Luohe Cold Storage , a state-owned meat processing plant in Luohe , was established in 1958.
In 1984 Wan Long became chairman. In 1998 the company was renamed Henan Shuanghui Industrial Co., Ltd. and was listed on the Shenzhen Stock Exchange .
Takeover by CDH and Goldman Sachs
In 2006 the company was taken over by CDH Investment Bank and Goldman Sachs . Goldman Sachs later sold its shares for a large profit.
Acquisition of Smithfield Foods
In the middle of 2013, Shuanghui International took over the majority of the world's largest pork company, the US company Smithfield Foods, for around $ 4.7 billion. With the takeover, Shuanghui also received around 37% stake in the largest European meat processor, Campofrío Food Group (CFG); This stake was sold in mid-2015 to the majority partner, the food manufacturer Sigma Alimentos , which belongs to the Mexican conglomerate Grupo Alfa .
renaming
In January 2014, Shuanghui International changed its name to WH Group. The name is derived from Wanzhou Holdings, where the Chinese character Wan stands for eternity and Zhou for continents. The logo symbolizes the four oceans between the five continents.
initial public offering
In order to reduce its debt from the takeover of Smithfield, the WH Group initially planned to go public in Hong Kong in April 2014 , the IPO should be accompanied by a record number of 29 syndicated banks , seven of them bookrunners . It was hoped to raise over $ 5 billion from investors. However, since demand remained well below these expectations due to the too high asking price for the share and other circumstances, the size of the issue was reduced by two thirds and the IPO was finally postponed. At the second attempt in the summer, the offer of 2.57 billion shares was several times oversubscribed, especially the shares reserved for private investors. Income of over 2 billion dollars (equivalent to 1.5 billion euros) has now been achieved. This time, the issue was managed by just seven banks, the lead managers were BOC International (a subsidiary of the Bank of China ) and Morgan Stanley . The share's first trading day was August 5, 2014. Since September 4, 2017, the WH Group has been listed in the Hang Seng Index .
Further takeovers abroad
In 2017, three subsidiaries of the Polish Pini Group were acquired through Smithfield Foods , thereby consolidating Smithfield's market position as the largest meat processor in Poland. The acquisitions were incorporated into the existing Polish Smithfield subsidiary Animex. Also in 2017, three pork factories and several distribution centers in Romania were taken over.
Ownership
As of August 2016, the main shareholders of the WH Group were:
| shareholder | Shares |
|---|---|
| Rise Grand Group Ltd. (controlled by senior managers of the WH Group) | 34.00% |
| CDH Investments Management Ltd. | 30.40% |
| Wan Long (he holds additional shares indirectly through a minority stake in the Rise Grand Group) | 9.08% |
| UBS | 2.57% |
By October 2016, CDH sold a large part of its stake in two tranches and now holds 12.94%. Part of the shares sold went to the Rise Grand Group.
Web links
- Website of Shuanghui (English)
Individual evidence
- ↑ WH Group Limited | Company Profile from Hoover’s
- ↑ a b WH Group 2017 Annual Report , accessed October 14, 2018
- ↑ Shuanghui International Changes Name to WH Group , Business Wire, Jan. 21, 2014
- ↑ http://www.wattagnet.com/articles/25011-infographic-worlds-top-10-pig-producers
- ↑ http://www.wattagnet.com/directories/79-the-world-s-leading-pig-producers-and-processors
- ↑ Milestones , from www.wh-group.com , accessed on August 24, 2016
- ^ Smithfield Foods - Pigs will fly , at www.economist.com , accessed August 24, 2016
- ↑ http://www.alfa.com.mx/down/2015/junio3_2015i.pdf
- ↑ http://www.businesswire.com/news/home/20140121005322/en/Shuanghui-International-WH-Group
- ↑ http://www.reuters.com/article/idUSBREA3S0AY20140429?irpc=932
- ↑ Kreise: WH Group will raise at least $ 2.05 billion on IPO. In: nzz.ch. July 29, 2014, accessed October 14, 2018 .
- ↑ http://www.wsj.com/articles/wh-group-raises-2-05-billion-in-hong-kong-ipo-1406623467
- ↑ [1]
- ↑ [2]
- ↑ WH Group Ltd. , at www.4-traders.com , accessed on August 24, 2016
- ↑ Chinese pork supplier WH Group says major investor CDH to sell 10.61 pct stake
- ↑ CDH realizes $ 806m through part exit from WH Group