A major meatpacker with six plants in Iowa is being sold. Colorado-based Swift and Company announced this morning it’s been sold in a one-point-four billion dollar deal. The buyers are H-and-M Capital Partners LLC of Dallas, Texas, and JBSSA of Brazil, Latin America’s largest beef processor.
The transaction is for 225-million dollars in cash for Swift stock while the buyers assume one-point-two billion in Swift debt. It will create the world’s largest pork and beef producer. Swift has 20,000 workers worldwide.