January 31, 2007

National Beef Company may buy Swift

Kansas City, Missouri-based National Beef Company, has been considering buying Swift and Co beef and pork business.

Greeley, Colorado-based Swift, which was targeted by wide-scale immigration raids recently announced that it was considering strategies ranging from refinancing to a sale or initial public offering.

According to reports in "Greeley Tribune," National Beef has an equity partner already lined up who is prepared to finance the purchase of at least part of Swift, if not the entire business.

National would like to buy the pork division of Swift so it could add pork to its protein portfolio, but the company might be prepared to concede the pork business to others if it meant getting all the beef business, said the report.

Some other firms including Cargill Inc and Smithfield Foods might also be interested in a similar deal.