HM Capital Partners, the majority owner of Swift & Co., and J&F Participacoes, which owns 77% of Brazilian meat processor JBS
JBS is the largest beef processor in
The acquisition actually will be done for $225 million in cash and the assumption of $1.2 billion in Swift debt, the announcement said. The deal is scheduled to be completed in mid-July. Swift will retain its organizational identity, the announcement said.
Joesley Mendonca Batista, a J&F partner and chief executive officer of JBS, said the acquisition would be "a major step" in JBS establishing a global presence, especially in the Asian-Pacific region.