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American Companies That Are No Longer American
©Ocskay Mark/stock.adobe.com
Many brilliant companies – from Apple to Starbucks – have been founded in the United States, starting out as small ventures to become international leaders in their fields. However, the world of business isn’t always as straightforward as it looks. Regardless of how well-rooted a company’s American history is, it doesn’t mean that it will always belong to Uncle Sam.
In fact, many quintessentially American brands are no longer American-owned at all. From Ben and Jerry’s to IBM and Holiday Inn, overseas investors have played a big part in keeping these companies moving forward. Without them stepping in, some of them may have ceased to exist altogether.
1. Popsicle
Original Headquarters: Oakland, California
Purchased By: Unilever
Country: England
Popsicle has such an interesting history that it’s almost Hollywood. The recipe was created by 11-year-old Oakland native Francis Epperson when he accidentally left a drink outside overnight with a stick in it. When he returned to it the next day, it was a popsicle. As an adult, he released the product to the world and it was an instant hit.
Popsicle ©JeniFoto / Shutterstock.com
Just three years later in 1925, Epperson sold the rights to the Joe Lowe company, a move which he later regretted, stating “I haven’t been the same since.” Epperson’s rival Good Humor bought the Popsicle in 1989, but by then was a subsidiary of Unilever, making the Oakland-born Popsicle a British-Dutch owned creation.
2. Ben & Jerry’s
Original Headquarters: South Burlington, Vermont
Purchased By: Unilever
Country: England
Ice cream company Ben & Jerry’s has made a name for itself as a pop-culture staple. The brand is mentioned in countless movies and TV shows as one of America’s most-beloved foods. The origin story is sweet too, with best friends Ben Cohen and Jerry Greenfield opening their own parlor in 1978.
Ben & Jerry's ©AVC Photo Studio / Shutterstock.com
In 2000, Ben & Jerry’s announced it had been bought by London-based conglomerate Unilever. The deal was struck for $326 million, with Unilever being the highest bidder out of three different companies looking to make the takeover. The purchase helped to boost Unilever’s portfolio.
3. Burger King
Original Headquarters: Miami, Florida
Purchased By: Restaurant Brands International
Country: Canada
Fast food has long since been an institution in the United States, with many names, including Burger King, making a huge amount of profit. James McLamore and David Egerton first opened their store called “Insta Burger King” in Miami back in 1954. Little did they know they were creating an international brand.
Burger King ©Sorbis / Shutterstock.com
Just over 10 years later, Burger King was sold for the first time. Since then, it’s been owned by several companies. As of 2020, Canadian company Restaurant Brands International is the proud owner of the Big Whopper, which merged with Tim Horton’s. BK still receives financial backing from NYC’s 3G Capital.
4. Trader Joe’s
Original Headquarters: Monrovia, California
Purchased By: Theo Albrecht
Country: Germany
Competition in the convenience store sector has always been fierce, especially if it’s located in a heavily populated area. Back in 1967, Joe Coulombe started stocking unusual and hard to come by foods to try and entice customers into shopping with him instead of at 7-Eleven. It worked.
Trader Joe's ©Sundry Photography / Shutterstock.com
That store is still open today, but Joe sold Trader Joe’s in 1979. The owner of Aldi Nord, Theo Albrecht became the new owner. Aldi is a huge supermarket chain, so the Albrecht’s have a great deal of family money. Theo is said to be worth over $16 billion thanks to his wise investments.
5. American Apparel
Original Headquarters: Los Angeles, California
Purchased By: Gildan Activewear
Country: Canada
One of the most appealing aspects of clothing retailer American Apparel for consumers was its slogan, “Made in USA – Sweatshop free.” For the conscientious shopper, this was a brilliant brand. Everything went swimmingly for the company up until 2015, when it went bust and scrambled to get back on its feet.
American Apparel ©Susan Montgomery / Shutterstock.com
In 2017, Canadian company Gildan Activewear swooped in to save the day, buying the rights to the American Apparel name and buying the manufacturing equipment at the same time. It didn’t come cheap, at a final price of $88 million. Because of this, American Apparel lives to fight another day – only, now it’s Canadian.
6. 7-Eleven
Original Headquarters: Dallas, Texas
Purchased By: Seven & i Holdings
Country: Japan
Every great company starts with one person and a dream. 7-Eleven was no different. Jefferson Green was just an average guy working for Southland Ice in 1927 when he started to expand his range, providing customers with eggs, bread, and milk. This business model proved popular, especially when he changed the name to 7-Eleven after the store’s opening hours.
7-Eleven ©Yusnizam Yusof / Shutterstock.com
As the decades ticked by, 7-Eleven became a well-known brand in America, with more locations than Jefferson Green could’ve ever dreamed of. However, it didn’t come out of the 1987 financial crash unscathed. Japanese company Ito-Yokado bought it. Now, it’s part of its parent company, Seven & i Holdings.
7. Sunglass Hut
Original Headquarters: Miami, Florida
Purchased By: Luxottica Group
Country: Italy
For eyewear lovers, Sunglass Hut is the one-stop shop to cater to every single need. From clear glasses to tinted, the company has stores in India, the United Kingdom, South Africa, and more. Of course, it originated in Miami, Florida as the brainchild of optometrist Sanford Ziff.
Sunglass Hut ©Northfoto / Shutterstock.com
Five years after opening its 100th store in 1986, Sunglass Hut was sold. These days, it’s part of the Luxottica Group who made the purchase in 2001 for an eye-watering $653 million. At the time, over 1,300 stores existed. Now, close to 2,000 exist across the globe, with 81 of these existing in the United States.
8. Holiday Inn
Original Headquarters: Memphis, Tennessee
Purchased By: Intercontinental Hotels
Country: England
It may be hard to imagine now, but back in 1952, Holiday Inn was just a single motel on the way from Memphis to Nashville. Kemmons Wilson first came up with the idea after having a less than desirable experience during a family road trip to Washington D.C. By 1953, Wilson had partnered with Wallace E. Johnson to build more locations.
Holiday Inn ©QualityHD / Shutterstock.com
At some point in the late ‘80s, the well-established hotel chain was purchased by an English company called the Intercontinental Hotels Group. Holiday Inn locations have continued to pop up and are still owned by IHG to this day, proving it to be a wise investment.
9. Smithfield
Original Headquarters: Smithfield, VA
Purchased By: WH Group
Country: Hong Kong
When it comes to producing pork-based products, Smithfield Foods reigns supreme. The company has been going since 1936 when it was created by Joseph W. Luter and his son. The business grew steadily over the years to become one of the largest in the industry, with over 500 farms in America alone.
Smithfield ©Tada Images / Shutterstock.com
Back in 2013, WH Group bought Smithfield foods for the astronomical sum of $4.72 billion. At that time, it was the most expensive acquisition made by a Chinese company in America. So, while Smithfield’s HQ might be in Smithfield, Virginia, the company is actually run from Luohe in Henan province.
10. Ironman
Original Headquarters: Tampa Bay, Florida
Purchased By: Dalian Wanda Group
Country: China
The Ironman competition started out as part of the Hawaii Triathlon Corporation before being purchased by Dr. James P. Gills in 1990. At the time the deal was worth $3 million. Since then it’s become a much bigger entity than it once was. In 2008, it was sold to Providence Equity Securities for a healthy $85 million, before the Dalian Wanda Group came onto the scene in 2015.
Ironman © Fernanda Paradizo / Shutterstock.com
The renowned Chinese corporation bought Ironman for $650 million, even taking on the debt left behind. Although the company was successful prior to the purchase, Wanda was especially happy with the 40% year after year net growth.
11. Forbes
Original Headquarters: Jersey City, New Jersey
Purchased By: Integrated Whale Media
Country: China
The first issue of Forbes was released back in September of 1917. Over the past 102 years, it has grown to become a trusted publication that holds definitive rankings of both companies and celebrities, while also maintaining popular lists like 30 Under 30 and World’s Most Powerful 100 Women.
Forbes ©Hadrian / Shutterstock.com
Although it’s often seen as an American publication and it is still operated in the US, the company hasn’t been American-owned for quite some time. In 2014, Hong Kong-based company Integrated Whale Media Investments bought the magazine for around $400 million. However, readers probably haven’t noticed the difference.
12. Dirt Devil
Original Headquarters: Charlotte, North Carolina
Purchased By: Techtronic Industries
Country: China
Dirt Devil vacuum cleaners have been keeping America’s homes clean for 115 years, ever since they were first invented in 1905 in Cleveland, Ohio by Philip Geier. Since then, the range has expanded and over 25 million units have been sold, thanks in large to its unique Cyclone system.
Dirt Devil @Sydney Colquitt / Pinterest.com
Chinese company Techtronic Industries is the current proud owner of Dirt Devil, but it isn’t the only household appliance brand it owns. TI also purchased Hoover some years ago, giving the Hong Kong-based company quite the overseas appliance investment portfolio. Dirt Devil continues to have its HQ in North Carolina.
13. Good Humor
Original Headquarters: Youngstown, Ohio
Purchased By: Unilever
Country: England
Good Humor ice cream is better known among baby boomers. Many fans remember the 100-year-old company and its associated ice cream trucks. Once it started in Ohio during the ‘20s, there was no stopping the company as it expanded to most of America. Back in 1961, the company was bought by Thomas J. Lipton of Unilever.
Good Humor ©Hadrian / Shutterstock.com
Although Lipton operated the US division of the British-Dutch company, there’s no denying that Good Humor lost its 100% American-ness and instead gained something more. The brand expanded to include many more products, retaining a strong consumer base across the generations.
14. Purina
Original Headquarters: Nashville, Tennessee
Purchased By: Bridgestone
Country: Japan
Nestle may be a name more associated with food than pet products, but that didn’t stop the Swiss company buying Purina in December 2001 for $10.3 billion. The decision was made to merge Nestle’s original pet food company, Friskies PetCare, with Purina.
Purina ©Monticello / Shutterstock.com
Original founders William H. Danforth, George Robinson, and William Andrews started out feeding farm animals in 1894. They were blissfully unaware that this simple creation would make them incredibly rich men. The brand continues to be a staple in many homes across the globe, not just in America.
15. Firestone
Original Headquarters: Nashville, Tennessee
Purchased By: Bridgestone
Country: Japan
In 1988, tire brand Firestone was offered the chance to merge with Italian company Pirelli, but the deal didn’t sit right. Instead, Firestone opted to sell to Bridgestone Corp. The Tokyo-based company spent $2.6 million on the purchase, equating to $80 a share. At the time, it helped Bridgestone become the second-largest tire manufacturer in the country.
Firestone ©Jonathan Weiss / Shutterstock.com
“The Bridgestone offer achieves our objective of enhancing shareholder values and will add materially to the employment security and career opportunities available to the men and women employed by Firestone’s existing businesses,” explained Firestone in a statement printed in the Los Angeles Times.
16. Gerber
Original Headquarters: Florham Park, New Jersey
Purchased By: Nestle
Country: Switzerland
In 2007, Nestle made headlines again when it announced plans to buy Gerber Products Company for $5.5 billion. The baby food retailer was a smart acquisition for Nestle, who then got the biggest slice of the global baby food pie. As a market, it’s notoriously profitable.
Gerber ©1000 Words Photos / Shutterstock.com
As a brand, Gerber has been serving the parents of the world since 1927 when Daniel Frank Gerber’s wife started to make baby food for their daughter, Sally. A lightbulb went off in Daniel’s head. Within no time at all, he had five products ready to hit the market. That number has increased a lot since then.
17. Hellman’s
Original Headquarters: New York City
Purchased By: Unilever
Country: England
Hellman’s mayonnaise is a refrigerator staple for most households. There’s one man responsible for that. German-born Richard Hellmann came up with the recipe back in 1905, putting a twist on the French condiment and bringing it into the American market.
Hellman's ©rafastockbr / Shutterstock.com
Customers at his delicatessen loved it so much that Hellman sold it alone. By 1932, he sold to Best Foods, where it stayed for another 70 years. By 2000, the company was purchased by Unilever, who spent $20.3 billion on the brand that started out as a simple sauce in New York City.
18. Citgo
Original Headquarters: Houston, Texas
Purchased By: Petróleos de Venezuela
Country: Venezuela
Citgo was founded in Bartlesville, Oklahoma in 1910, becoming a popular refiner and marketer of fuels and other products. In 1986, Venezuelan company Petróleos de Venezuela purchased 50% of Citgo, making it the parent company for the brand.
Citgo ©Ken Wolter / Shutterstock.com
It hasn’t always been smooth sailing for the business. In 2010, President Hugo Chavez announced plans to sell Citgo, calling it “bad business” and blaming falling profits. However, the sale never happened and bonds were sold instead. An economic depression in 2013 saw it offered to Russia as collateral for a debt, with its future becoming deeply uncertain.
19. General Electric
Original Headquarters: Boston, MA
Purchased By: Haier (Appliances division only)
Country: China
General Electric may have started out as a relatively small brand when it was founded in 1892, but the company has grown exponentially since then. Now, GE has its fingers in a lot of pies, from aviation and healthcare to power and venture capital. It’s a titan.
General Electric ©Jonathan Weiss / Shutterstock.com
Many Americans find the brand appealing because it has a “Made in America” stamp on its products. However, it should be noted that GE sold its Appliances division to the Chinese company Haier back in 2016. Haier bought the business from GE for $5.4 billion, a recording breaking sum at that time.
20. Motorola
Original Headquarters: Schaumburg, Illinois
Purchased By: Lenovo
Country: China
Motorola might be best known for its tech, but it was founded in 1928 before mobile phones were even a dream. After steadily growing over the years, the business found success with its flip phones and other products, before it was sold to Google, who then sold it to Chinese company Lenovo in 2014.
Motorola ©N.Z.Photography / Shutterstock.com
Google didn’t make anything from the sale, as they originally bought Motorola for $12.5 billion in 2012 before selling it for just $2.9 billion two years later. To this day, no one quite understands the move or why Google was so comfortable taking a $10 billion loss.
21. IBM (PC Division)
Original Headquarters: Armonk, New York
Purchased By: Lenovo
Country: China
IBM as a company has been helping America stay on top of technology since 1911, although back then it was more to do with business machines and less to do with computers. The company has an interesting and long past, not least because the PC division was sold to Lenovo in 2004 for $1.75 billion.
IBM (PC Division) ©josefkubes / Shutterstock.com
“As Lenovo’s founder, I am excited by this breakthrough in Lenovo’s journey towards becoming an international company,” said Chuanzhi Liu, the CEO at the time. On the flip side, IBM’s CEO Sam Palmisano said, “Today’s announcement further strengthens IBM’s ability to capture the highest-value opportunities in a rapidly changing information technology industry.
22. Legendary Entertainment Group
Original Headquarters: Burbank, CA
Purchased By: Dalian Wanda Group
Country: China
After successfully purchasing AMC and testing the waters in the movie world, Dalian Wanda decided to up the ante in 2016 and purchase their very own movie studio. Legendary Entertainment Group signed over ownership to the investment group for a healthy $3.5 billion.
Legendary Entertainment Group @DealStreetAsia / Twitter.com
Dalian Wanda wanted to fully absorb LEG into its already existing portfolio of brands but instead decided to keep it operating as normal for the time being. Movies like Kong: Skull Island, Pacific Rim: Uprising, Jurassic World: Fallen Kingdom, and Skyscraper have been made since the deal was made four years ago.
23. Hoover US
Original Headquarters: Ohio
Purchased By: Techtronic Industries
Country: China
Hoover has been a trusted appliance brand in America since it was first founded in 1908. Over the decades, William Henry Hoover’s company became an iconic brand. Despite keeping things local until 2006, Hoover ended up selling to Techtronic Industries for $107 million.
Hoover US (Vacuum company) ©Grzegorz Czapski / Shutterstock.com
While Hoover maintains a headquarters in North Carolina, its parent company runs things from its central office in Hong Kong. Techtronic is a huge company, with over 30,000 members of staff on the books and annual sales of over $7.7 billion. Hoover might not be American anymore, but it’s in good hands.
24. Frigidaire
Original Headquarters: Fort Wayne, Indiana
Purchased By: Electrolux
Country: Sweden
The Guardian Frigerator Company (as it was originally called) emerged in Fort Wayne, Indiana in 1918. Although the business was officially founded by Nathaniel B. Wales and Alfred Mellowes, they didn’t initially have the money they needed to get things off the ground. That’s where General Motors founder William C. Durant stepped in.
Frigidaire (refridgerators) ©Jer123 / Shutterstock.com
Without his investment, the duo may never have got their company – later renamed Frigidaire – off the ground. By 1979, the company was owned by the White Sewing Machine Company, which was later bought by Sweden’s Electrolux in 1986. Frigidaire has remained a subsidiary of the business ever since.
25. Strategic Hotels and Resorts
Original Headquarters: Chicago, IL
Purchased By: Anbang Insurance Group
Country: China
Strategic Hotels & Resorts Inc is a hotel chain company, currently with 17 luxury hotels within the United States, and uniquely, one hotel in Germany. The successful company was founded in 1997, by real estate investor and philanthropist Laurence S. Geller.
Strategic Hotels & Resorts Inc ©Wikimedia.org
In 2016, the company was bought out by the Chinese company Anbang
Insurance Group, for a reported $6.5 million. The initial deal fell
through however, and they ended up buying the company for $1 million
less, as one of their properties was forbidden from being sold by the US
government for its proximity to a navy base.
26. Alka-Seltzer
Original Headquarters: Elkhart, Indiana
Purchased By: Bayer
Country: Germany
Alka-Seltzer has the distinction of being one of the longest-standing branded medicines out there. The antacid and pain relief drink was released under the Dr. Miles Medicine Company back in 1931. Although it stayed American for a good deal of time, the business was eventually sold to German company Bayer in 1978.
Alka-Seltzer ©Fahroni / Shutterstock.com
When it comes to pharmaceutical giants, Bayer has been known to rub shoulders with the best. Back in 2004, Bayer partnered with GlaxoSmithKline to work on a joint campaign under the tagline “Strike Up A Conversation.”
27. The Chrysler Building
Original Headquarters: New York City, NY
Purchased By: SIGNA Group
Country: Austria
When the News Corp’s publication The Wall Street Journal first broke the story of the Chrysler Building’s sale in 2019, many were taken aback. The building has long since been a New York institution, but it hasn’t been owned by an American company for some time.
The Chrysler Building ©Kamira / Shutterstock.com
The Abu Dhabi Investment Council paid $800 million for majority ownership back in 2008, but they ended up selling to Austrian company SIGNA and New York’s RFR for little over $150 million just over a decade later. The loss was catastrophic, making headlines in financial outlets the world over.
28. General Motors
Original Headquarters: Detroit, MI
Purchased By: Shanghai Automotive Industry Corp
Country: China
General Motors holds the distinction of being America’s largest automobile manufacturer. As such, it’s also one of the biggest companies of its kind in the entire world, which certainly makes it profitable and appealing.
General Motors ©Linda Parton / Shutterstock.com
While General Motors isn’t entirely owned by a Chinese company, it does rely on its partnership with Shanghai Automotive Industry Corp to keep the money rolling in. Both of the companies formed a joint venture in 1998. SAIC sells companies under the General Motors name, even if customers don’t realize it. SAIC has its headquarters in Shanghai, while GM has theirs in Detroit.
29. Spotify
Original Headquarters: New York, NY
Purchased By: Tencent Holdings Ltd
Country: China
Spotify is such a part of everyday life now that it’s difficult to remember a time when we couldn’t listen to the songs we want at the drop of a hat. The company was first founded in 2006, providing listeners with a way to stream their favorite music. Although it came from Sweden, Spotify has traveled a lot since then.
Spotify ©norazaminayob / Shutterstock.com
Back in 2017, Tencent Holdings and Spotify bought a stake in each
other of roughly 10%. This joint venture helped Spotify crack into the
Chinese market, while Tencent expanded its already large portfolio. It
was a partnership of convenience for Spotify, who wasn’t strong enough
at that point to dive into the Chinese market alone.
30. The Waldorf Astoria Hotel
Original Headquarters: New York, NY
Purchased By: Anbang Insurance Group
Country: China
If you’re making a trip to New York, staying at the Waldorf-Astoria is a true taste of luxury. Not only is it an institution, but it’s also a part of American history. While the company is managed by Hilton Worldwide, it was bought by the Anbang Insurance Group of China in 2014 for $1.95 billion.
The Waldorf-Astoria Hotel ©Sergey Kohl / Shutterstock.com
That extravagant price made it the most expensive hotel ever sold. Anbang made some big changes to the Astoria, including making some of the rooms into condos. This Chinese company has also looked at buying several other American-owned businesses over the years, including Starwood Resorts.
31. Tesla
Original Headquarters: Palo Alto, CA
Purchased By: Tencent Holdings Ltd
Country: China
Elon Musk might be the brains behind Tesla and the majority shareholder with 21.7%, but he isn’t the only one pumping money into the automotive company. There are plenty of shareholders, including Tencent Holdings Ltd. Tencent isn’t just into music, but a variety of things.
Tesla ©Hadrian / Shutterstoc.com
Tencent is the world’s largest video game company and one of the
largest social media companies, making it a force to be reckoned with.
In 2019, it had a net income of $95.8 billion, so whatever they’re
doing, they’re doing it right. At the moment, the company is still on
the up and up.
32. Snapchat
Original Headquarters: Los Angeles, CA
Purchased By: Tencent Holdings Ltd
Country: China
Taking a picture with a silly filter has never been so popular thanks to Snapchat. The company was founded by Evan Spiegel and Bobby Murphy in 2011, but neither one would have realized how popular it would become. At the moment, Snapchat is valued at over $20 billion.
Snapchat ©dennizn / Shutterstock.com
Back in 2017, Tencent extended its reach to Snapchat, too. The tech
giant poured in over $2 billion for a 10% stake in the company, hoping
to see a tidy return from its investment. On the flip side, Tencent used
its tech expertise to develop the augmented reality Snapchat uses even
further.
33. Ingram Micro
Original Headquarters: Irvine, CA
Purchased By: HNA Technology Co. Ltd
Country: China
Ingram Micro started out as a small technology product distributor in 1979 before going on to become a multi-billion dollar business. In the early 1990s, Ingram was in a position to take over Belgium’s Softinvest. As a result, they were able to distribute Hewlett Packard products which gave them an even bigger foothold.
Ingram Micro ©JHVEPhoto / Shutterstock.com
In 2016, Chinese company Tianjin Tianhai Investment (a part of the HNA Group) bought Ingram for a cool $6 billion. At that time, the deal made Ingram one of HNA’s biggest earners out of their entire portfolio. It was a shrewd business move to help further Ingram in foreign markets.
34. Fidelity & Guaranty Life
Original Headquarters: Des Moines, IA
Purchased By: Anbang Insurance Group (Failed Acquisition)
Country: China
Fidelity and Guaranty Life Insurance Company help millions of people feel more secure in case the worst ever happens. That being said, the future of the company wasn’t always so certain. F&G was owned wholly by Harbinger Group until it was opened up to the public in 2013.
Fidelity & Guaranty Life Piotr Swat / Shutterstock.com
Then, Anbang Insurance Group expressed an interest in making the
purchase for $1.57 billion. Everything was set to go until the deal was
terminated at the last minute. Instead, F&G was acquired by CF Corp
in 2017 for an estimated $1.84 billion.
35. Universal Music Group
Original Headquarters: Santa Monica, CA
Purchased By: Vivendi/Tencent
Country: France/China
Landing a record deal with Universal is a triumph for any artist. Known as one of the world’s “Big Three” record companies (alongside Sony Music and Warner Music Group UMG has a reputation that spans almost a century. The company may be home to many great homegrown bands, but it hasn’t been American owned for years.
Universal Music Group ©NYCStock / Shutterstock.com
French company Vivendi has owned the majority stake in the company for over a decade, but reached a deal with Chinese company Tencent in early 2020. For $33.4 billion, the Shenzhen-based media giant got a 10% cut.
36. WeWork
Original Headquarters: New York, NY
Purchased By: Legend Holdings Corp
Country: China
In recent years, shared workspaces have become more chic and on-trend than ever, especially for freelancers or companies just starting out. WeWork capitalized on this trend when it was conceived 10 years ago. Now, it manages over 4 million square meters of co-working space.
WeWork ©Mitch Hutchinson / Shutterstock.com
However, it hasn’t always been smooth sailing for the business, who
desperately needed some capital in 2016. As a result, Beijing-based
company Legend Holdings Corp poured over $430 million into WeWork as a
“new partner.” CEO of Legend’s Hony Capital John Zhao said, “Our
investment in WeWork is both strategic and obvious.”
37. Segway Inc
Original Headquarters: Bedford, NH
Purchased By: Ninebot Inc
Country: China
Standing on two wheels and whizzing around seemed like something out of Back to the Future a couple of decades ago, unless you own a motorbike. Segways became very popular over the past few years, but when Beijing-based company Ninebot bought Segway in 2015 for $80 million, things got better.
Segway Self-Balancing Scooter ©klook.com
Ninebot was able to push the technology to try and make Segway a
bigger presence in the robotics and technology industry. In 2018, plans
to move production out of New Hampshire to China were announced, but it
was later said that the majority of production would stay in Bedford.
38. John Hancock Life Insurance
Original Headquarters: Boston, Mass
Purchased By: Manulife Financial
Country: Canada
The John Hancock Financial Opportunities Fund offers up a ton of different products under the rand umbrella, but one of the most popular aspects is its life insurance. The Boston-based company has been operating since 1862, but was acquired by Manulife Financial in 2004.
John Hancock Life Insurance @johnhancock / Facebook.com
The Canadian business could’ve easily wiped out the John Hancock name altogether, but decided to hold onto the well-known brand and keep things moving under the original moniker. Manulife operates out of Toronto, employing over 34,000 members of staff and a further 63,000 agents.
39. Sotheby’s
Original Headquarters: New York, NY
Purchased By: Taikang Life Insurance Co Ltd
Country: China
What does a luxury broker of fine and decorative art and a life insurance company have in common? The answer is more complex than you might think. Sotheby’s was founded in London in 1744 before setting up shop in New York City and opening locations around the world.
Sotheby's ©mm7 / Shutterstock.com
In 2016, Chinese life insurance company Taikang Life was announced as Sotheby’s newest majority shareholder. Taikang held that position until 2019 when the company was bought by French-Israeli titan Patrick Drahi. It’s unclear what happened to Taikang’s 13.5% stake or if they’re still in partnership with Drahi.
40. The Barclays Center
Original Headquarters: Brooklyn, NY
Purchased By: Joseph Tsai
Country: Taiwan/Canada
The Barclays Center is a mecca for sports fans, music lovers, and anyone in between. Taiwanese-Canadian businessman Joseph Tsai completed the purchase of the center in 2019. The chairman of the Alibaba Group also bought the Brooklyn Nets NBA team.
The Barclays Center ©lazyllama / Shutterstock.com
“With full ownership of the Nets and Barclays Center, we will continue to bring our exciting brand of basketball to our fans,” said Tsai at the time. “We’ve made a strong commitment to Brooklyn and it will be a privilege to present the best of Barclays Center with its great entertainment to our community.”
41. Brookstone Inc
Original Headquarters: Peterborough, NH
Purchased By: Sanpower Group Corp; General Electric Capital Corp; Sailing Capital Management Co Ltd
Country: China
Brookstone Inc. started out as a mail-order business selling special tools that were hard to find in the mid-60s. From there it started selling items like remote control toys, alarm clocks, and much more. As of 2018, there were 34 locations in America.
Brookstone Inc ©Wikimedia.org
The company fell on hard times in 2014 when it was forced to file
for bankruptcy under Chapter 11, but Chinese companies Sailing Capital
and Sanpower came forward and bought it for $173 million. Thankfully,
this purchase and a large injection of cash saved the company from going
under completely. Brookstone came out of bankruptcy in July 2014.
42. Fab.com Inc
Original Headquarters: New York, NY
Purchased By: Tencent Holdings Ltd and Partners
Country: China
Being in the online design industry is tough as the competition out there is stiff. Once based in New York City, Fab.com managed to secure a huge investment from Tencent Holdings in 2013 worth around $1 billion. With Tencent, Fab hoped to launch platforms in Asia.
Fab.com Inc ©fab.com
“It’s a way to enter markets through strategic partners who can
help mitigate risk and will increase the likelihood of success,” said
CEO Jason Goldberg. However, two years later in 2015 the company was
bought by PCH International and relaunched as a wellness brand
specializing in yoga gear.
43. The Cleveland Cavaliers
Original Headquarters: Cleveland, OH
Purchased By: Investor Group led by Jianhua Huang
Country: China
Basketball team the Cleveland Cavaliers burst onto the scene in 1970 with thanks from their sponsors. The team continued to grow in the game over the decades, with backing from Goodyear Tire and Rubber Company. However, in 2019, they got some overseas investors, too.
Cleveland Cavaliers @Cavs / Facebook.com
The Cavaliers signed a deal with Jianhua Huang, a Chinese
businessman that previously made deals with the New York Yankees and
other teams throughout America. Huang reportedly bought a 15% stake in
the Cavaliers. It’s not unusual for sports clubs to have outside
investors from overseas. In this case, LeBron James was already popular
in China.
44. Riot Games Inc
Original Headquarters: Los Angeles, CA
Purchased By: Tencent Holdings Ltd
Country: China
Riot Games is best known as the creator of League of Legends, a multiplayer online battle extravaganza that pits users against each other. The game debuted in 2009 and gained a lot of traction, becoming the company’s best-known product. Although Tencent and Riot had been partners for many years, Tencent upped the ante in 2015.
Riot Games Inc ©Piotr Swat / Shutterstock.com
The company bought the rest of the stakes that it didn’t own,
making it Riot’s parent company and giving it full creative control.
Prior to that, Tencent still owned 93% of the business, so it seemed
like a natural progression. Riot Games is worth $6 billion.
45. Uber Technologies Inc
Original Headquarters: San Francisco, CA
Purchased By: Baidu Inc
Country: China
Grabbing a cab was made even easier when Uber rolled around, allowing users to book a ride with just a touch of a button. It was created by Garrett Camp and Travis Kalanick in 2009, before going on to become a multi-billion-dollar business and a household name across the world.
Uber Technologies Inc ©Mr.Whiskey / Shutterstock.com
In 2014, Chinese internet-search titan Baidu Inc. made a big investment of over $600 million to help Uber expand into China. The partnership was mutually beneficial, as Baidu wanted to use Uber to grow its mobile payment service. It was a match made in heaven.
46. OmniVision Technologies Inc
Original Headquarters: Santa Clara, CA
Purchased By: Will Semiconductor Co. Ltd.
Country: China
The deal brokered between OmniVision Technologies Inc. and Shanghai-based company Will Semiconductor Co. Ltd was so quiet that it didn’t become public knowledge until a year later in 2019. According to documents published in April of that year, over $2.1 billion exchanged hands.
OmniVision Technologies Inc ©flywish / Shutterstock.com
With little to no fanfare and no public statement released, the
details of the sale remain unclear. However, the company first became
involved with Chinese investors in 2015 when several chinese companies
banded together to pay $1.9 billion for the California-based business.
Will Semiconductor Co. Ltd is not a well-known company by any means,
making the takeover somewhat of a mystery.
47. Baby Trend Inc
Original Headquarters: Fontana, CA
Purchased By: Alpha Group
Country: China
Baby Trend Inc specializes in all things baby, from highchairs and car seats to travel systems and diaper pails. The business continues to grow, especially after the 2016 purchase made by Canton’s Alpha Group.
“We are excited to offer safe, educational, and entertaining
solutions to infants and their caregivers around the world,” said Wang
Jing, the VP of Alpha. “Acquiring Baby Trend will allow us to bring our
innovative technology and outstanding intellectual properties into a
whole new category, while showcasing our existing expertise in the baby
and infant market globally.”
48. University of Texas MD Anderson Cancer Center
Original Headquarters: Houston, TX
Purchased By: Concord Medical Services
Country: China
Back in 2012, many eyebrows were raised when 20% of the University of Texas M.D. Anderson Cancer Center Proton Therapy Center was acquired by Beijing-based company Concord Medical services. Although the purchase didn’t directly affect the University’s ownership stakes, it did boost Concord’s profile.
University of Texas MD Anderson Cancer Center ©Andriy Blokhin / Shutterstock.com
“Proton treatment has become a widely accepted method of radiation therapy,” said Dr. Jianyu Yang, Concord Medical chairman and CEO. “Concord Medical plans to build and operate two proton centers in China. This transaction will enable us to gain valuable experience and knowledge of the operations of a proton therapy center from the world leader in proton therapy cancer care.”
49. Hilton Hotels
Original Headquarters: McLean, VA
Purchased By: HNA Group Co Ltd
Country: China
Hilton Hotels & Resorts has been operating since 1919 thanks to founder Conrad “Nicky” Hilton. From a handful of simple locations, Hilton became a worldwide name with 586 hotels in 85 countries by 2018. Hilton’s are everywhere.
Hilton Hotels ©Dace Kundrate / Shutterstock.com
In 2016, China’s aviation and shipping titan HNA Group paid $6.5 billion for a 25% stake in the hospitality chain, becoming the biggest shareholder. This was the second purchase that year for HNA who also bought Carlson Hotels Inc. in a bid to spread its wings into the hotel industry. At the time of the purchase, Hilton was worth around $26 billion.
50. Starplex Cinemas
Original Headquarters: Dallas, TX
Purchased By: Dalian Wanda Group Corp Ltd
Country: China
Starplex never had the same power in the industry as AMC did, with only 34 locations across America. As a result, many Americans never set foot in a Starplex theater because there just weren’t any around. The chain was bought by AMC Theaters in 2015 for $175 million, with many locations turned into AMC Classics.
Starplex Cinemas @Royal_Window / Twitter.com
As we discussed earlier, AMC is largely controlled by the Dalian
Wanda Group Corp Ltd. As Starplex faded into obscurity when the last of
the theaters were changed over to AMC in 2017, the company was swallowed
by AMC and Dalian to become another cog in the machine.
51. California Grapes International Inc
Original Headquarters: San Jose, CA
Purchased By: China Food Services Corp
Country: China
California Grapes International Inc was once a homegrown business, but that all changed when it was bought by China Food Services Corp. Once a company focused on distributing wine, California Grapes faded into obscurity after the purchase was made some years ago for an undisclosed amount.
California Grapes International Inc ©Sundry Photography / Shutterstoc.com
China Food Services Corp describes itself as being “is engaged in
marketing, distribution, and selling of food and beverages though-out
Asia and the Middle East. It owns and operates Golden Dragon Food &
Beverage Import & Export Company of Hong Kong, Ltd.” The company was
founded in 1992.
52. Fisher Price
Original Headquarters: East Aurora, NY
Purchased By: Mattel
Country: China
Fisher-Price is a toy-making company that has been around since 1930. Though it has its headquarters in America, the company has a series of contracts with outside vendors. It has eleven factories in China. In 2007, Fisher-Price (via its parent company, Mattel, which bought Fisher-Price back in 1993) made headlines when it recalled one million of its toys, which were made in China.
Fisher-Price ©TY Lim / Shutterstock.com
The reason for the massive recall was that these factories had made the toys with excessive amounts of lead in them, something that can be dangerous to children, especially the young age groups that play with the company’s toys.
53. Hush Puppies
Original Headquarters: Rockford, Michigan
Purchased By: Wolverine World Wide
Country: China, Vietnam, Brazil
Hush Puppies’ shoe brand was introduced in 1958. It is owned by Wolverine World Wide, and Wolverine markets and licenses the shoes throughout 120 countries, including America. This means that the shoes are made in factories worldwide. The company almost went under in the mid-nineties, but I was saved by Geoffrey Bloom, the chairman.
Hush Puppies ©Nokuro / Shutterstock.com
There is a Hush Puppies factory located in Michigan along with the headquarters, but it is often cheaper in other countries to make the shoes there. Hush Puppies is noted for its inventive use of Scotchgard, a leather protector added during tanning to increase resistance to scuffs, stains, and water.
54. Gillette
Original Headquarters: Boston, Massachusetts
Purchased By: Procter & Gamble
Country: Poland, Brazil, Mexico, China
Gillette is one of America’s most popular shaving brands, and it does make part of its blade supply in America. However, the handles, cartridges, and razors are made in China, Mexico, Poland, and Brazil. Gillette still has a factory in Boston, and it’s had that Massachusetts plant since the early twentieth century.
Gillette Razor Blades @superdrug / Twitter.com
However, as its website stated, demand for razors has increased, so the company has expanded. 1992 was the first year Gillette attempted to corner the razor market in China, opening a plant in Shanghai. This allowed Gillette to access the demand of a billion razors per year then.
55. Barbie
Original Headquarters: Hawthorne, CA
Purchased By: Mattel
Country: China
Ruth Handler made the first Barbie in 1959, launching the famous doll brand. Barbies are still extremely popular, even sixty-one years later, and Mattel, Inc. (the company that owns Barbie) has reported strong sales of 58 million Barbies sold annually. That is over 100 dolls per minute. Mattel’s net revenue is around $1.5 billion a year.
Barbie ©DinosArt / Shutterstock.com
Fun fact: Barbies have never been made in America. Mattel opened its first Barbie plant in 1959 in Japan, when the company was struggling to recover after WWII. Now, it has four factories: two are in China, and the others are in Malaysia and Indonesia.
56. Huffy
Original Headquarters: Dayton, OH
Purchased By: Russell Corporation
Country: China, Mexico, Taiwan
Huffy was founded more than a century ago in Dayton, Ohio. The company is a bicycle supplier, and it owns tons of subsidiaries, including Royce Union, American Sports Design Co., Gen-X Sports, and Huffy Bicycle Co. This athletic brand was founded by George Huffman, who used an old nickname as the company’s title.
Huffy @LogikCycle / Twitter.com
In late 1999, Huffy closed down its two U.S. bicycle plants in favor of cheaper manufacturing overseas. The company has outsourced production to six plants in China, in addition to one in Mexico and one in Taiwan. Before outsourcing, it had plants in Celina, Ohio.
57. Oakley Sunglasses
Headquarters Original: Lake Forest, CA
Purchased By: Italy
Country: China
Oakley was founded by entrepreneur James Jannard, who used an investment of $300 to start what would later become one of the most iconic sunglass fashion brands in the world. Oakley is a subsidiary of Luxottica, a Milan-based company, but Oakley itself is based in Lake Forest, California.
Oakley Sunglasses @Oakley / Facebook.com
The company was founded in 1975, and, twenty years later, it had its first IPO and raised $230 million. It expanded into selling chin guards and ski goggles, growing its product line. Its founder, after selling Oakley to Luxottica, went on to create the company, Red Digital Cinema, in 2007.
58. Converse
Headquarters in: Boston, MA
Purchased By: Nike
Country: China
Converse is a shoe company that makes hightop canvas shoes. The company was founded in 1908, but, when WWII occurred, it stopped making shoes for style and instead started making shoes for the military. When it returned, it kept some of those attributes for its new collections.
Converse ©Evannovostro / Shutterstock.com
Converse has been owned by Nike since 2003. Nike has a lot of plants in China (and everywhere), so it makes sense that Converse does too. Converse went bankrupt in 2001, and that ended its American-made status, as well as its solo company status. Now, Converse has factories in Indonesia, Vietnam, India, and China.
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