Leucadia attains control
of National Beef business
Jan 6, 2012 10:08 AM
Leucadia National Corporation (NYSE: LUK) has completed the acquisition of a controlling interest in National Beef Packing Company LLC, one of the largest beef processing companies in the Unites States.
National Beef processes, packages, and delivers fresh and frozen beef and beef by-products for sale to customers in the United States and international markets. The transaction was previously announced December 5, 2011. As a result of the acquisition, Leucadia owns a 78.95% interest in National Beef. The other members of National Beef—US Premium Beef LLC (USPB); NBPCo Holdings LLC; and Timothy Klein, National Beef’s chief executive officer—will hold a minority interest in the company.
Leucadia anticipates that National Beef will continue to operate in the same manner and with the same management as was in place before consummation of the transaction.
National Beef, based in Kansas City MO, has operations in Liberal, Dodge City, and Kansas City KS; Brawley CA; Hummels Wharf PA; Moultrie GA; and St Joseph MO. With about 9,100 employees, the firm processes and markets fresh beef, case-ready beef, and beef by-products for domestic and international markets. More information about National Beef is provided at www.nationalbeef.com.
USPB is a producer-owned beef company formed in 1996 with the objective of aligning producers with consumers through processing. More than 2,000 producers from 35 states have used its integrated supply system. More information about USPB is available at www.uspremiumbeef.com.
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