Northern Ag Network
Northern Ag Network
Northern Broadcasting System    Northern News Network    Northern Sports Network
Search This Site...
Search This Site...

Featured Stories

JBS selling cattle feeding operation in Canada

JBS selling cattle feeding operation in Canada

7/15/2017 7:58:00 AM/Categories: General News, Today's Top 5, Livestock

JBS S.A. announced July 14 that its indirect subsidiary JBS Food Canada Inc. (JBS Canada) has reached an agreement to sell its 75,000 head capacity beef cattle feedyard Lakeside Feeders and adjacent farmland in Brooks, Alberta, Canada, to MCF Holdings Ltd. (MCF), a subsidiary of livestock-base agricultural business Nilsson Bros. Inc., for $50 million CAD (approximately US$40 million).

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.Completion of the transaction is subject to regulatory review and approval.   

JBS Food Canada was formed in 2013 and JBS Five Rivers was tasked with managing the Lakeside Feeders yard in Brooks. However, JBS S.A., reeling from several scandals, announced last month that it would be selling Five Rivers Cattle Feeding as part of a divestment program to raise approximately 6 billion reals ($1.8 billion) to reduce debt and leverage. Five Rivers, the world's largest cattle feeding company, operates 12 feedyards in Colorado, Kansas, Oklahoma, Texas, Arizona, Idaho and Alberta and markets more than 1.5 million head of cattle per year.

Upon completion of the transaction, one beef packing plant in Brooks, Alberta, and a corporate headquarters in Calgary, Alberta will remain under JBS Food Canada Inc.

MCF Holdings owns a diverse group of agricultural businesses that operate across all the Western provinces, including 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.

Source: Feedstuffs

Photo Courtesy: Feedstuffs

 
Print
Tags:

Leave a comment

Name:
Email:
Comment:
CAPTCHA image
Enter the code shown above in the box below
Add comment

Name:
Email:
Subject:
Message:
x

Recent Ag News

Montana Made Food for Thanksgiving

11/23/2017 12:04:00 AM
With another Thanksgiving and Holiday Season upon us, this year let delicious food produced by Montana farmers and ranchers be part of your holiday menu. >> Read More
Article rating: No rating

Trump Spares Turkeys and Jokes He Can't Overturn Obama's Pardons

11/22/2017 5:00:00 AM
President Donald Trump on Tuesday pardoned a turkey named Drumstick and jokingly bemoaned that his lawyers wouldn’t let him overturn the clemency former President Barack Obama granted to a pair of birds named Tater and Tot ahead of Thanksgiving last year. >> Read More
Article rating: No rating

Sugar Policy Modernization Act Bad for U.S. Sugar Growers

11/21/2017 2:57:00 PM
Amendments designed to gut no-cost U.S. sugar policy were rejected three times on the Senate floor, two times on the House floor, and twice at the Committee level during the 2014 Farm Bill debate.  Now, backers of those defeated amendments are dusting them off for another run. >> Read More
Article rating: No rating

Livestock Transportation Rules Delayed

11/20/2017 1:19:00 PM
The Electronic Logging Device (ELD) enforcement deadline for agricultural haulers is delayed by 90 days! >> Read More
Article rating: No rating

Another Case of Tuberculosis Discovered in South Dakota

11/20/2017 6:06:00 AM
Bovine tuberculosis (TB) has been confirmed in a South Dakota beef herd. >> Read More
Article rating: No rating
RSS

Find Articles by Date

«November 2017»
MonTueWedThuFriSatSun
2345
69101112
171819
20212223242526
27282930123
45678910