A Brazil company is buying U.S.-based Swift & Co. for $225 million and assumption of $1.2 billion in debt.
Purchaser JBS SA controls Brazil’s leading beef exporter, Friboi. The acquisition will make JBS the world’s-largest beef company and Brazil’s biggest food company.
The deal should close by July.
Swift, the third-largest U.S. processor of beef and pork, has been operated by private equity firm, HM Capital, which acquired Swift from ConAgra Foods, Inc. in 2002.