U.S. Premium Beef Selling National Beef Packing Company

JBS expands its size with acquisition.

U.S. Premium Beef has entered into an agreement with JBS to sell National Beef Packing Company, L.L.C. for $465 million in cash and $95 million in JBS common stock. All National Beef operations will be combined with JBS-Swift operations under the leadership of National Beef President Tim Klein, the new Chief Operating Officer of the new joint company.

"This transaction will enable our company to become a part of a leading multinational food company," says Steve Hunt, CEO of USPB. "Being able to diversify through JBS will put our company in a position to compete long term in an increasingly competitive environment. Additionally, as part of JBS, we will be in a strong position to grow USPB’s successful integrated strategy. Our producer owners and other producers who market cattle through USPB will now have a more geographically diversified company with multiple locations to deliver the high quality cattle they produce for our value-added programs. This opportunity will establish a solid platform for future company growth."

Certain conditions and usual regulatory approval will be required before the transaction can be finalized.

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