Tuesday, May 29, 2007

New 'World's Largest Meatpacker' announced today

In the wake of recent news that a merger between pork industry giants Smithfield Foods and Premium Standard Farms was finalized, news reports were popping up today about another merger of large meatpacking industry giants.

News organizations reported today that a Brazilian meatpacker has purchased Swift & Co. and as a result, will become the largest meatpacking company in the world.

A Bloomberg.com article today announced that the Latin American firm J&F Participacoes SA had purchased Swift & Co., and that the newly-formed conglomerate would become the world's largest beef and pork processor.

Swift was in the news late last year after it was the target of several federal raids by Immgration and Customs Enforcement agents that resulted in the arrest of hundreds of illegal immigrants. Here in Iowa, Swift operates a meatpacking plant in Marshalltown. The Marshalltown plant was among the targets of the December immigration raids.

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