In this file:
· JBS reaches deal to sell Canada feedyard, farmland
· Nilsson Bros. to buy back JBS feedlot for $50 million
· JBS sells Canada cattle feeding operation for $40 million to MCF
· Media Release: JBS Food Canada Reaches Agreement to Sell Alberta Feed Yard
· JBS puts more assets on the block with $40m Lakeside Feeders sale
· Board of Brazil's JBS approves debt refinancing with banks: filing
JBS reaches deal to sell Canada feedyard, farmland
Sharon Dunn, The Greeley Tribune (CO)
July 14, 2017
Not even a month after opting to sell its U.S. cattle feeding operations, JBS will let go of its Canadian cattle feeding business as well.
JBS Food Canada, Inc., announced in a news release Friday it will sell Lakeside Feeders, its beef cattle feed yard and adjacent farmland in Brooks, Alberta, Canada, to MCF Holdings Ltd., for $50 million in Canadian currency, the equivalent of $39.5 million in U.S. dollars. MCF Holdings is a subsidiary of Nilsson Bros, Inc., a livestock-based agricultural business in Alberta, the release stated.
Last month, JBS, the largest feeding operation in the world, let alone Colorado, opted to unload Five Rivers Cattle Feeding, which has the feeding capacity of 980,000 animals in six states, including Colorado. The Canada feed operations have the capacity of 75,000 head.
That was reportedly part of a $1.8 billion divestment plan to cut the company's dairy, poultry and cattle feeding operations after parent company JBS SA was fine $3.1 billion in Brazil to settle a bribery scandal.
The Canadian operations of JBS are lumped in with JBS USA beef in the company's financial reporting segments.
JBS USA filed for its initial public offering in December 2016 to raise $1 billion. That IPO is set to go through this year…
Nilsson Bros. to buy back JBS feedlot for $50 million
JBS's controlling shareholders move to shed assets, raise cash
Alberta Farmer Express
July 14, 2017
Scandal-plagued Brazilian meat packing giant JBS’s plans to sell off non-core assets will see its major cattle feedlot in southern Alberta sold back to its previous owner.
JBS USA announced Friday its JBS Food Canada arm has reached a deal to sell Lakeside Feeders, its cattle feedlot and “adjacent farmland” at Brooks, Alta. for $50 million to MCF Holdings — an arm of the feedlot’s previous owner, livestock trading firm Nilsson Bros. Inc.
The terms of the deal call for MCF to continue to supply cattle to JBS’ nearby beef packing plant at Brooks, which the Brazilian firm still owns.
MCF said in JBS USA’s release that it also expects to offer employment to the feedlot’s and farm’s employees upon closing of the deal.
The two companies didn’t say when they expect that deal to close but noted its completion is “subject to regulatory review and approval.”
The feedlot, which has capacity for 75,000 head of cattle, has been managed as part of JBS’s Five Rivers Cattle Feeding unit, which also runs feedlots in Colorado, Kansas, Oklahoma, Texas, Arizona, and Idaho.
JBS had also bought the former XL Foods beef plant as part of a $100 million deal with the Nilssons in 2013, exercising its option from an earlier deal to manage XL’s packing operations in the wake of a massive beef recall.
Edmonton-based Nilsson Bros. has remained active in other aspects of the beef business...
JBS sells Canada cattle feeding operation for $40 million to MCF
Reporting by Tatiana Bautzer; Editing by Sandra Maler, Reuters
July 14, 2017
SAO PAULO (Reuters) - Brazil's JBS SA has agreed to sell its feed lots in Canada and an adjoining farm to MCF Holdings Ltd for $40 million, the company said in a securities filing on Friday.
According to the terms of the agreement JBS' subsidiary Food Canada Inc. signed, MCF will continue to supply cattle to JBS Canada's unit in Brooks, the filing said...
JBS Food Canada Reaches Agreement to Sell Alberta Feed Yard
Source: JBS USA, LLC
via Nasdaq/GlobeNewswire - July 14, 2017
BROOKS, Alberta, July 14, 2017 (GLOBE NEWSWIRE) -- JBS Food Canada Inc. has reached an agreement to sell Lakeside Feeders, its beef cattle feed yard and adjacent farmland in Brooks, Alberta, Canada, to MCF Holdings Ltd. (“MCF”), a subsidiary of Nilsson Bros. Inc., a livestock-based agricultural business in Alberta, for $50 million CAD. Completion of the transaction is subject to regulatory review and approval.
Under terms of the agreement, MCF will continue to supply cattle to the JBS Food Canada beef processing facility in Brooks. MCF anticipates offering employment to current feed yard and farm employees upon closing.
About JBS Food Canada Inc.
JBS Food Canada, Inc. is a diversified agribusiness involved in the feeding, harvesting and processing of cattle. JBS Food Canada includes one beef packing plant in Brooks, Alberta, one feedlot in Brooks, Alberta, farmland adjacent to the Brooks feedlot, and corporate headquarters in Calgary, Alberta.
About MCF Holdings Ltd.
MCF Holdings is a subsidiary of Nilsson Bros. Inc., a livestock-based agricultural business in Alberta. Nilsson Bros. owns a diverse group of agricultural businesses that operate across all the Western provinces. They include auction markets, livestock insurance and finance, and feed yards. Nilsson Bros. also has ranches and livestock production facilities in B.C., Alberta, Saskatchewan and Manitoba. Corporate offices are located in Edmonton, Alberta.
JBS puts more assets on the block with $40m Lakeside Feeders sale
By Oscar Rousseau, GlobalMeatNews
JBS Food Canada will sell its feedlots to MCF Holdings for $40m as its Brazilian parent company, JBS SA, offloads more assets following million-dollar fines and a corruption scandal.
It will sell Lakeside Feeders, a beef feed yard and adjacent farmland in Alberta, Canada, to MCF Holdings, a subsidiary of livestock business owner Nilsson Bros.
The transaction is still subject to regulatory review and approval, but should net JBS Food Canada around $40m, providing the acquisition is cleared by antitrust authorities.
MCF will continue to supply cattle to the JBS Food Canada beef slaughterhouse based in the city of Brooks, southeast Alberta, which employs 2,500 people.
Lakeside Feeders is one of the largest cattle feedlots in Canada with a capacity of 75,000 cows sourced from British Columbia, Alberta, Saskatchewan and Manitoba. The site employs around 75 people, according to JBS.
MCF said it planned to offer jobs to all workers on the feedlot and surrounding farmland once the deal is closed. Its parent company Nilsson Bros owns a diverse range of agriculture-facing businesses based in Canada’s western provinces, such as Alberta and British Colombia. Companies owned by Nilsson Bros includes auction markets, livestock insurance and finance firms, as well as feedlots.
JBS continues to sell, sell, sell
For the Brazilian parent company of JBS Food Canada, the sale of Canadian feedlots is the latest in a string of sales as the business downsizes following the fallout from a corruption scandal.
In June, JBS’ holding company, J&F Investimentos, agreed to pay a record $3bn leniency fine amid a broader corruption probe. The huge fine came after seven senior JBS executives entered a plea bargain in May amid bribery claims. Their deal struck with Brazil’s Federal Public Prosecutors Officer resulted in a R$225m ($70m) fine.
At the time of fines, a JBS spokesperson told this site no assets would be sold to finance the penalties. JBS, one of the world’s largest meatpackers, announced a major asset sale shortly after this.
The business wants to raise $1.8bn through the sale of Northern Irish poultry firm Moy Park, US-based Five Rivers Cattle Feeding and a string of assets in South America to pay off debt.
The business also wants to sell its 19.2% stake in...
Board of Brazil's JBS approves debt refinancing with banks: filing
July 14, 2017 / 3:57 PM
SAO PAULO (Reuters) - The board of Brazil's JBS SA (JBSS3.SA) authorized on Friday a debt refinancing deal with its creditors, the company said in a securities filing.
Reuters reported on Thursday that JBS, the world's No. 2 food processor, was close to refinancing about 18 billion reais ($5.5 billion) worth of loans due within a year.
Reporting by Tatiana Bautzer; Editing by Tom Brown