U.S. Premium Beef, LLC (USPB) and National Beef Packing Company, 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 February 23, 2009.
"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,” said Steve Hunt, Chief Executive Officer of USPB.
U.S. Premium Beef, LLC is the majority owner of National Beef Packing Company, LLC, a leading U.S. beef processor. More than 2,100 producers from 36 states have marketed cattle on USPB's quality-based grids. More information about USPB is available at www.uspremiumbeef.com.
National Beef Packing Company, LLC, based in Kansas City, MO, has operations in Liberal and Dodge City, Kansas; Brawley, California; Hummels Wharf, Pennsylvania; Moultrie, Georgia and Kansas City, Kansas. More information about National Beef is available at www.nationalbeef.com.
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