The unit of JBS SA sold the asset to a subsidiary of Nilsson Bros. Inc for C$50 million.
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.