IPO-linked US meat major Smithfield Foods spins off Europe arm.

Smithfield Foods, a US pork processor owned by China's WH Group, has separated its European operations in preparation for an IPO in the US market. The European arm, previously known as Smithfield Europe, will now be called Morliny Foods. The move is seen as a strategic decision to facilitate the listing process for the US business. Smithfield Foods aims to continue driving growth in North America through product innovation and leveraging its brand portfolio. Morliny Foods, on the other hand, aims to become a more agile competitor in the European food market. [Extracted from the article]