News

JBS USA finds feedlot buyer

South America’s JBS says its USA Food Company has agreed to sell all of its Five Rivers Cattle Feeding operations to a U.S. management company for $200-Million dollars.  It says the buyer is Pinnacle Asset Management, a private, New York-based investment adviser.

The sale includes 11 feed yards in Arizona, Colorado, Idaho, Kansas, Oklahoma and Texas, with feeding capacity of more than 900,000 animals.

JBS USA will keep its agreements to purchase cattle from the Five Rivers feed yards. plants.

The sale is tied in with JBS S-A’s bribery scandal settlement in which it has to pay a more than 3-Billion dollar fine.