JBS to Sell Five Rivers Cattle Feeding for $200 Million
JBS USA plans to sell Five Rivers Cattle Feeding to Pinnacle Asset Management, L.P., for approximately $200 million. Pinnacle Asset, an investment firm specializing in commodities and natural resources, made the announcement on Jan. 17 in a press release.
Five Rivers Cattle Feeding includes 11 feedlots and has a total feeding capacity estimated at 980,000 head of cattle, making it the largest cattle feeder in the world. The feeding operation traces its roots back to the 1920s with the Monfort family and now has yards in Arizona, Colorado, Idaho, Kansas, Oklahoma and Texas.
As part of the purchasing agreement Five Rivers Cattle Feeding will continue to supply cattle to JBS USA's beef processing plants. The current Five Rivers management team is to remain intact, with president and CEO Mike Thoren staying in his lead role.
That's your Land and Livestock Report-I'm Russell Nemetz.