Shuanghui International has acquired a US pork processor Smithfield Foods in an all-cash deal valued at $7.1bn, which includes the assumption of net debt.
The deal received approval from Smithfield's shareholders at a special meeting held on 24 September.
Shuanghui chairman Wan Long said, "Today marks an exciting new chapter for both of our proud organizations as we formally begin a partnership that will benefit our customers, employees, producers and partners."
"Together we look forward to utilizing our individual strengths, including Shuanghui's extensive distribution network in China and Smithfield's leading production and safety protocols, to provide safe, high-quality products to consumers worldwide," Long added.
Smithfield president and chief executive officer C. Larry Pope said, "Our partnership ensures the stability of our business for all our stakeholders, particularly our employees and the communities we serve, while simultaneously unlocking exciting opportunities for growth in the large and rapidly growing Chinese pork market."
Each shareholder will receive $34 in cash per share they own in Smithfield's common stock.
Smithfield will operate as a wholly-owned subsidiary of Shuanghui International as Smithfield Foods with its existing brand names.
Shares of Smithfield's common stock will no longer be listed on the New York Stock Exchange.
Morgan Stanley acted as financial adviser to Shuanghui International, while Barclays acted as financial adviser to Smithfield.
