JBS Food Canada Reaches Agreement to Sell Alberta
Post# of 301275
BROOKS, Alberta, July 14, 2017 (GLOBE NEWSWIRE) -- JBS Food Canada Inc. has reached an agreement to sell Lakeside Feeders, its beef cattle feed yard and adjacent farmland in Brooks, Alberta, Canada, to MCF Holdings Ltd. (“MCF”), a subsidiary of Nilsson Bros. Inc., a livestock-based agricultural business in Alberta, for $50 million CAD. Completion of the transaction is subject to regulatory review and approval.
Under terms of the agreement, MCF will continue to supply cattle to the JBS Food Canada beef processing facility in Brooks. MCF anticipates offering employment to current feed yard and farm employees upon closing.
About JBS Food Canada Inc.
JBS Food Canada, Inc. is a diversified agribusiness involved in the feeding, harvesting and processing of cattle. JBS Food Canada includes one beef packing plant in Brooks, Alberta, one feedlot in Brooks, Alberta, farmland adjacent to the Brooks feedlot, and corporate headquarters in Calgary, Alberta.
About MCF Holdings Ltd.
MCF Holdings is a subsidiary of Nilsson Bros. Inc., a livestock-based agricultural business in Alberta. Nilsson Bros. owns a diverse group of agricultural businesses that operate across all the Western provinces. They include auction markets, livestock insurance and finance, and feed yards. Nilsson Bros. also has ranches and livestock production facilities in B.C., Alberta, Saskatchewan and Manitoba. Corporate offices are located in Edmonton, Alberta.
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