Swift no longer part of ConAgra fleet

Oct. 1, 2004
ConAgra Foods Inc., Omaha, Neb., announced September 26 that it has sold the rest of its stake in Swift Foods to majority holder Hicks, Muse, Tate & Furst Inc., a private equity firm. ConAgra received $194 million in the transaction.While the Swift brand goes back years, the corporate entity was created in 2002, when ConAgra sold a controlling stake in its fresh beef and pork operations for $1.4 billion to a group led by Dallas-based Hicks. ConAgra said it expects soon to recover $300 million of financing it provided to Swift’s cattle-feeding operations.ConAgra now has control of the cattle feeding assets, and said it will sell the cattle and feedlots in the next few months. Proceeds are expected to be used to repay ConAgra for the financing provided to those operations.

Sponsored Recommendations

F&B Manufacturer Implements Powerful Cybersecurity

A leading F&B manufacturer has moved to harness the skills of Rockwell Automation and Claroty to harden their OT and IT defences.

6 Ways to Augment Your Food and Beverage Workforce

Modern digital tools and technologies help attract, retain and empower a modern workforce.

2024 Manufacturing Trends - Unpacking AI, Workforce, and Cybersecurity

The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

Better OT Asset Management Increases Uptime

A food and beverage company streamlines and simplifies its OT cybersecurity to increase system reliability and uptime.