Holding firm buys 79% stake in National Beef
US-based company National Beef has sold a majority interest to a New York-based holding company.
The company announced that Leucadia National Corp. will acquire 79% of the outstanding ownership interests in National Beef. The operations and management structure of National Beef, including its wet blue tanning operation in St. Joseph, Missouri, will remain unchanged, the company said.
Steve Hunt, chief executive officer of U.S. Premium Beef, said the transaction will allow the company units to “address liquidity desires” while maintaining its cattle supply system and investment in beef processing.
“Leucadia is a diversified holding company engaged in a variety of businesses; its broad and deep experience will enhance our partnership. Our goals for the future of National Beef are aligned and we look forward to a long and successful partnership,” he said.
