The Deal
Tuesday, November 24, 
3:50 am

Another Swift move by Chaudhry

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achaudhry2005,jpg.jpgAfter spells as both an investment banker and private equity analyst covering Swift & Co., Adnan Chaudhry moved in-house at the meatpacker in late January. Chaudhry heads up a newly created corporate development and strategic planning department, reporting to CFO Danny Herron.

Chaudhry served as an adviser in the original deal that created the third-largest beef and pork processor. Carved out of packaged food giant ConAgra Foods Inc. in June 2002, Swift was sold for $1.4 billion to a buyout group formed by Hicks Muse Tate & Furst Inc. and Booth Creek Management Corp. Chaudhry advised the financial sponsors while working at Salomon Smith Barney but two months after the deal was signed moved on to majority owner Hicks Muse, where he says he spent more than half his time working on Swift's strategy.

A native of Pakistan, Chaudhry came to the U.S. when he was 8 years old. At the time, he didn't speak English. The youngest of nine children, Chaudhry was the first in his family to go to college, according to a profile from the University of Utah, where he earned a B.S. in finance and a B.A. in economics in 2000.

Since its formation 2-1/2 years ago, Greeley, Colo.-based Swift has focused on organically growing its business, rolling out more than 100 new products. Meanwhile, the meatpacking industry has consolidated. Smithfield Foods Inc., the largest pork packer, has made more than 25 acquisitions since 1981 and recently indicated it was open to adding a company such as Swift "should it be available."

Saying he was "flattered" by the attention of other meat processors, Chaudhry nonetheless declined to discuss his new role. - Brenon Daly



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