Sam Kane Beef welcomes South American investors
The owners of Sam Kane Beef Processors in Corpos Christi, Texas, has announced that a new group of investors will help to ensure the company’s future. The company announced Monday the Fernandez Group of companies through its TAAG Americas subsidiary has signed on as capital partners.
According to the Corpus Christi Caller Times, The Fernandez Group is a leading dairy operator in South America with milk and beef cattle herds and dairy operations in Venezuela, Colombia and Argentina, among others. It is run by Alfredo Fernandez-Pineda and his sons Alfredo, Carlos and Manuel.
Sam Kane company president Lou Waters and his father purchased the beef processor in 2013. In a release, the company noted that it had survived an extremely difficult time in the beef industry, due to drought in Texas and reduced cattle supply, but it has recovered from those lean times.
"We are proud to have brought the operation through one of the worst times in the industry's history and positioned it for success going forward," Waters said in the Monday news release. He added that with the new investors there's "combined experience in cattle, genetics, plant operations, wholesale distribution and sales" that better positions the company for growth.