National Beef acquisition complete
Jan. 3, 2012
by Meat&Poultry Staff
NEW YORK – Leucadia National Corporation has completed its acquisition of a controlling interest in Kansas City, Mo.-based National Beef Packing Company LLC. This transaction was previously announced on Dec. 5.
Leucadia now owns a 78.95 percent interest in National Beef and the other members of National Beef, US Premium Beef LLC, NBPCo Holdings LLC. Timothy Klein, National Beef’s president and chief executive officer, will hold a minority interest in National Beef and will continue in both roles upon completion of the transaction.
“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,” said Steve Hunt, CEO of USPB, when the initial announcement was made.