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 DENVER (AP) - In a union of two large meat-processing companies, a Brazilian firm announced Tuesday it will acquire Swift & Co. in a $225 million cash deal that will give the combined company greater access to expanding markets and operations on three continents.
J&F Participacoes S.A., which controls Brazil's leading beef exporter Friboi, won out over other bidders for Swift, which was highly sought after because not many meat-packaging plants are put up for sale in wake of U.S. industry consolidation, analysts said.
Swift, headquartered in Greeley about 50 miles north of Denver, is the third-largest U.S. processor of beef and pork and has plants in six states and an operation in Australia.
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