JBS sells Canadian cattle feeding business for $40 million

JBS has announced the sale of a feedlot and neighboring farmland near Brooks, Alberta, to MCF Holdings Ltd. (MCF) for approximately $40 million ($50 million CAD).

The Lakeside Feeders yard has a capacity of 75,000 head and JBS took ownership of the feedlot in 2013, forming JBS Food Canada.

JBS Food Canada will continue to own and operate their packing plant in Brooks, Alberta. As part of the agreement MCF will continue to supply cattle to the packer. The transaction is still pending a regulatory review and approval.

Source: Drovers