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JBS USA
Type Wholly-owned
Founded (1855)
Headquarters United States Greeley, CO, United States
Key people Wesley Batista CEO
Industry Meat Processing
Products Food and Beverages
Revenue US$ 15.4 billion (2008)
Parent JBS S.A.
Website www.jbsswift.com

Swift & Company today denomined JBS USA, the wholly-owned operating subsidiary of privately-held Fortune 500 listed S&C Holdco 3, Inc.[1] is the world's third-largest processor of fresh beef and pork, with nearly US$10 billion in annual sales as of 2007. It is also the largest beef processor in Australia.[2]

S&C Holdco 3 in turn is held by Swift Foods Company.[2]

Swift & Company is based in Greeley, Colorado. Its competitors include Cargill, Smithfield Foods, and Tyson Foods. In 2007, it was acquired by JBS S.A. (Bovespa:JBSS3).[2]

Contents

History

The meat packaging company was founded in 1855 by Gustavus Franklin Swift.[2]

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Recent difficulties

In December 2006, six of the company’s meat-packing facilities in Colorado, Nebraska, Texas, Utah, Iowa, and Minnesota were raided by U.S. Immigration and Customs Enforcement officials, resulting in the apprehension of 1,282 illegal immigrants from Mexico, Guatemala, Honduras, El Salvador, Peru, Laos, Sudan, and Ethiopia, and nearly 200 of them criminally charged after a ten month investigation into identity theft.[3]

Up until early 2007, Swift & Company was owned by HM Capital Partners LLC, a leading, Dallas-based private equity firm, and Booth Creek Management Corporation.[2]

On July 12, 2007 those owners sold Swift & Company to JBS S.A. the largest beef processor in South America and one of the largest worldwide beef exporters, in a US$1.5 billion all-cash deal. The acquisition makes the newly consolidated JBS Swift Group the largest beef processor in the world. Prior to the deal JBS had market capitalization of US$4.2 billion and sales revenue of $2.1 billion, and operated in 23 plants in Brazil and 5 in Argentina.[2]

On July 11, 2007 The Swift companies had also completed several tender offers and consent solicitations for financing notes. These included 10⅛% Senior Notes due 2009 and 12½% Senior Subordinated Notes due January 1, 2010 both issued by Swift & Company, 11% Senior Notes due 2010 issued by S&C Holdco 3 and 10¼% Convertible Senior Subordinated Notes due 2010 issued by Swift Foods Company.[2]

On June 24, 2009 the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) announced that JBS Swift Beef Company, a Greeley, Colo. establishment, recalled approximately 41,280 pounds of beef products that may be contaminated with E. coli O157:H7.
The beef products were produced on April 21 and 22, 2009, and were shipped to distributors and retail establishments in Arizona, California, Colorado, Florida, Illinois, Michigan, Minnesota, Nebraska, Oregon, South Carolina, Tennessee, Texas, Utah and Wisconsin.[4]

1916 advertisement for lard.

See also

References

  1. ^ S&C Holdco 3 Inc · 8-K · For 6/20/07, SECInfo, Filed On 6/25/07, SEC File 333-100717-06, Accession Number 950134-7-14015
  2. ^ a b c d e f g JBS S.A. Completes Acquisition of Swift & Company, In Food Service Infusion News, PRNewswire, GREELEY, Colo., July 12, 2007
  3. ^ Immigrations and Customs Enforcement raids Swift & Co. plants in six states
  4. ^ USDA FSIS June 24, 2009 Recall Colorado Firm Recalls Beef due to E. coli O157:H7

External links


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