Brazilian Meatpacker Sells US Cattle Feedlot Operations
GREELEY, Colo. (AP) — A Brazilian meatpacking company that has property in south-central Idaho has sold its U.S.-based Five Rivers Cattle Feeding operation as part of a $1.8 billion divestment of assets.
JBS, the world's largest meatpacking company, was fined $3.2 billion after company leaders acknowledged paying about $150 million in bribes to Brazilian politicians to help it gain financing to expand the company.
The Greeley Tribune reports JBS sold Five Rivers Cattle Feeding to Pinnacle Asset Management for $200 million in a deal that closed Friday.
The feeding operations — which includes 11 feed yards in six states — will be managed by Acadia Asset Management and Ospraie Management.
JBS's U.S. operations are based in Greeley. It also has feeding operations in Malta, Idaho, as well as Arizona, Kansas, Oklahoma and Texas.