Industry News | Swift & Company Purchased By Latin American Beef Processo...

Industry News

Swift & Company Purchased By Latin American Beef Processor

J&F Participacoes SA, a primary owner of Latin America’s largest beef processing company JBS SA, has agreed to purchase Greeley, Colo.-based Swift & Company for $225 million in cash. The transaction has an enterprise value of $1.4 billion and creates the world’s largest beef and pork processing company. The transaction is expected to close by mid-July of this year.

“Joining J&F to become the world’s largest beef and pork processor, Swift should emerge even stronger, and that is good news for our partnership customers, our suppliers and our employees,” said Swift & Company CEO Sam Rovit in a company statement.

Swift & Company is the third-largest process of fresh beef and pork in the United States and the largest beef processor in Australia. The acquisition gives JBS access to the United States, the largest beef market in the world, and Asian markets open to U.S. beef since those countries ban beef imports from Brazil due to foot-and-mouth disease concerns.

JBS has 23 plants in Brazil and six in Argentina. The company is one of the largest beef exporters in the world and generated nearly $1.8 billion in sales last year.

Industry News

Swift & Company Purchased By Latin American Beef Processor

J&F Participacoes SA, a primary owner of Latin America’s largest beef processing company JBS SA, has agreed to purchase Greeley, Colo.-based Swift & Company for $225 million in cash. The transaction has an enterprise value of $1.4 billion and creates the world’s largest beef and pork processing company. The transaction is expected to close by mid-July of this year.

“Joining J&F to become the world’s largest beef and pork processor, Swift should emerge even stronger, and that is good news for our partnership customers, our suppliers and our employees,” said Swift & Company CEO Sam Rovit in a company statement.

Swift & Company is the third-largest process of fresh beef and pork in the United States and the largest beef processor in Australia. The acquisition gives JBS access to the United States, the largest beef market in the world, and Asian markets open to U.S. beef since those countries ban beef imports from Brazil due to foot-and-mouth disease concerns.

JBS has 23 plants in Brazil and six in Argentina. The company is one of the largest beef exporters in the world and generated nearly $1.8 billion in sales last year.