The Board of Directors of Swift & Company announced that it has engaged JP Morgan to assist it in a review of strategic and financial alternatives. The review was initiated as a result of a series of unsolicited inquiries over the past six months from a variety of strategic and financial third parties, as well as currently robust capital market conditions.

The Swift Board of Directors includes representatives of HM Capital Partners LLC, Swift's majority shareholder, and its investment partner, Booth Creek Management Corporation.

In the review process, the Swift Board will consider the full range of possible alternatives, including, among others, a possible sale, merger, strategic partnerships, refinancing and/or public equity offering. The Board emphasized that no decision has been made to pursue any particular alternative and it is possible that no alternative will ultimately be pursued.

Edward Herring, a Director of Swift & Company and Partner of HM Capital, stated: "Swift is an excellent company with very significant value, growth and earnings potential. As such, we will not pursue any transaction that does not fully reflect and realize the value of Swift. HM Capital and Booth Creek believe that Swift President and CEO Sam Rovit and his management team have done a great job of leading the company through some challenging times and positioning it for long-term strength and success. We are confident that the team is fully focused on Swift's operations and will continue to deliver strong performance during this process."

The Board stated that neither it nor Swift management will have any further public comment on the review until the process is completed.