In this file:

 

·         National Beef inks $150m deal to buy Iowa Premium from Sysco

… Marfrig bought a 51% stake in Missouri-based National Beef last year for $969 million. The Iowa Premium transaction will see the Brazilian meat firm invest $76.5 million…

 

·         Marfrig-National Beef jointly acquire Iowa Premium

Brazilian meat firm Marfrig Global Foods has acquired a majority stake in US beef processor Iowa Premium for $150m, which will be incorporated into its other US-owned business National Beef…

 

 

National Beef inks $150m deal to buy Iowa Premium from Sysco

 

FoodBev

March 13, 2019

 

Marfrig-owned National Beef has acquired Iowa Premium for $150 million, in a move to further expand its operations in North America.

 

Headquartered in Tama, Iowa Premium has a daily processing capacity of 1,100 head of cattle and was previously owned by Sysco.

 

Marfrig bought a 51% stake in Missouri-based National Beef last year for $969 million. The Iowa Premium transaction will see the Brazilian meat firm invest $76.5 million.

 

With the transaction, shares in Iowa Premium will be incorporated into the capital of National Beef. With annual sales of approximately $650 million, Iowa Premium operates using only black Angus cattle.

 

Along with the acquisition, a long-term supply agreement has been signed with Sysco.

 

Marfrig Global Foods CEO Eduardo Miron said: “This joint transaction with the other shareholders of National Beef demonstrates our commitment to sustainable growth and is an opportunity to increase our interest in the North America operation.”

 

Tim Klein, CEO of National Beef and of Marfrig’s North America operation, said: “I am excited to expand our beef operations with a processing facility in Iowa and we look forward to strengthening the relationships with the family farmers who produce the highest quality black Angus cattle in the US...

 

more

https://www.foodbev.com/news/national-beef-inks-150m-deal-to-buy-iowa-premium-from-sysco/

 

 

Marfrig-National Beef jointly acquire Iowa Premium

 

By Ashley Williams, GlobalMeatNews

13-Mar-2019

 

Brazilian meat firm Marfrig Global Foods has acquired a majority stake in US beef processor Iowa Premium for $150m, which will be incorporated into its other US-owned business National Beef.

 

The deal was concluded by Marfrig Global Food’s indirect subsidiaries, which form part of National Beef. As part of the transaction, the Brazilian firm undertook 51% shares of Iowa Premium for US$76.5m, while the rest of deal was finalised by National Beef.

 

Marfrig Global Foods acquired 51% of National Beef’s​ membership interests last year in a deal worth US$969m.

 

Marfrig CEO Eduardo Miron said: “This joint transaction with the other shareholders of National Beef demonstrates our commitment to sustainable growth and is an opportunity to increase our interest in the North America operation​.”

 

Previously owned by US foodservice firm Sysco, Iowa Premium is headquartered in Tama, Iowa and has a daily processing capacity of 1,100 head of Black Angus cattle. The business also has annual sales of US$650m.

 

Marfrig’s North American operation and National Beef CEO Tim Klein said...

 

more

https://www.globalmeatnews.com/Article/2019/03/13/Iowa-Premium-acquired-by-Marfrig-National-Beef