JBS Food Canada to sell Alberta feed yard
July 17, 2017
by MEAT+POULTRY Staff
The unit of JBS SA sold the asset to a subsidiary of Nilsson Bros. Inc for C$50 million.
BROOKS, Alberta – JBS Food Canada agreed to sell its feed yard, Lakeside Feeders, and the adjacent farmland in Brooks, Alberta, Canada, to MCF Holdings Ltd., for C$50 million. MCF Holdings is a subsidiary of Nilsson Bros. Inc., an agribusiness firm with operations across the Western provinces of Canada.
Under terms of the deal, MCF will continue to supply cattle to the JBS Food beef processing facility in Brooks. MCF expects to offer employment to current feed yard and farm workers upon closing. The transaction is subject to regulatory review and approval.
Separately, a Brazilian court recently cleared the way for parent company São Paulo, Brazil-based JBS SA to sell its South American beef operations to subsidiaries owned by Minerva SA for $300 million. The sale is in addition to JBS SA’s plans to generate $1.8 billion by divesting non-core assets.