Liberal, KS

Now: 66 °F

Currently: Fair

Hi: 89 °F | Lo: 66 °F

Friday

Hi: 89 °F 

Lo: 64 °F

Saturday

Hi: 90 °F 

Lo: 67 °F

Sunday

Hi: 98 °F 

Lo: 68 °F

Monday

Hi: 89 °F 

Lo: 61 °F

Tuesday

Hi: 87 °F 

Lo: 64 °F

National Beef Sells 79% Of The Company to a Holding Company

KSCB News - December 7, 2011 8:23 am

U.S. Premium Beef, LLC (USPB) and National Beef Packing Company, LLC (National Beef) today announced that the owners of National Beef have entered into a Membership Interest Purchase Agreement with Leucadia National Corporation (Leucadia) under which Leucadia will acquire approximately 79 percentof the outstanding ownership interests in National Beef. The operations and management structure of National Beef will remain unchanged.

“This transaction will enable us to address the liquidity desires of USPB’s diverse producer ownership base while maintaining our highly successful cattle supply system and a sizable investment in beef processing,” Steve Hunt, CEO of USPB, said in making the announcement. “Leucadia is a diversified holding company engaged in a variety of businesses; its broad and deep experience will enhance our partnership. Our goals for the future of National Beef are aligned, and we look forward to a long and successful partnership.”

Tim M. Klein, President and CEO of National Beef, will continue in that role upon completion of the transaction.

 

Latest Stories

SPEAR program Satanta Accepting donations

The SPEAR program is up and running! We’ve purchased quite few pairs of volleyball and football...

Corn progress behind a year ago (Kansas)

For the week ending Aug. 18, there were 4.6 days suitable for fieldwork, according to USDA’s...

$6.4 Million in Grants to help Kansan’s for Domestic Assault Programs and Childrens Advocacy Centers

Governor Laura Kelly announced the 2020 State General Fund Grant Programs funding awards for Domestic Violence...