News Flash: JBS Acquisition of National Terminated
Feb. 20, 2009

U.S. Premium Beef, LLC (USPB) and National Beef Packing Co. LLC (National Beef) today announced that the Membership Interest Purchase Agreement with JBS S.A. (JBS), previously announced on March 4, 2008, has been terminated effective as of Feb. 23, 2009.

Steve Hunt, chief executive officer (CEO) of USPB said, “Although this is not the outcome we anticipated, we are excited to continue the growth and success of our business on a stand-alone basis. As demonstrated by our fiscal year 2008 and first quarter 2009 financial results, National Beef’s value-added business model, rooted in strong relationships with cattle producers and beef customers, continues to generate industry-leading profits.”

John Miller, CEO of National Beef, added that, “This development has re-energized our management team. With our strong liquidity position and numerous opportunities to grow our business — both internally and externally — we are eagerly looking forward to building on our value-added model while continuing to focus on serving the needs of our customers.”

USPB is the majority owner of National Beef Packing Co. LLC, a leading U.S. beef processor. More than 2,100 producers from 36 states have marketed cattle on USPB’s quality-based grids. These high-quality cattle are the foundation of National Beef’s value-added product lines and have enabled it to be a leader in branded product programs for both domestic and international markets. More information about USPB is available at www.uspremiumbeef.com.

National Beef Packing Co. LLC, based in Kansas City, Mo., has operations in Liberal and Dodge City, Kan.; Brawley, Calif.; Hummels Wharf, Pa.; Moultrie, Ga.; and Kansas City, Kan. National Beef processes and markets fresh beef, case-ready beef and beef byproducts for domestic and international markets. More information about National Beef is available at www.nationalbeef.com.

— Release provided by USPB.


Having trouble viewing this e-list please click here.



Sign up for the Angus e-List
(enter your e-mail address below)

You have the right to unsubscribe at any time. To do so, send an e-mail to listmaster@angusjournal.com. Upon receipt of your request to unsubscribe, we will immediately remove your e-mail address from the list. If you have any questions about the service or if you'd like to submit potential e-list information, e-mail listmaster@angusjournal.com. For more information about the purpose of the Angus e-List, read our privacy statement at www.angusjournal.com/angus_elist.html

API Web Services
3201 Frederick Ave. • St. Joseph, MO 64506 • 1-800-821-5478
www.angusjournal.comwww.angusbeefbulletin.comwww.anguseclassifieds.com
e-mail: webservices@angusjournal.com