Affiliates of Pinnacle Asset Management, L.P., a commodities and natural resources investment firm, announced yesterday that it has entered into an agreement to acquire the U.S.-based cattle feeding assets and farms – collectively known as Five Rivers Cattle Feeding – from JBS USA, a global food company.
The sale price: approximately $200 million.
Five Rivers Cattle Feeding is believed to be the largest cattle feeding operation in the world, with roots in the U.S. dating back to the 1920s. The transaction includes 11 feed yards across Arizona, Colorado, Idaho, Kansas, Oklahoma and Texas, with feeding capacity of more than 900,000 head of cattle, and a long-term agreement to supply cattle to JBS USA beef processing plants.
The current Five Rivers management team will remain in place, led by president and CEO Mike Thoren, to ensure business continuity and build upon Five Rivers’ strong track record of innovation and stewardship.