Leucadia National Corp. announced that it has completed the acquisition of a controlling interest in National Beef Packing Co. LLC, one of the largest beef processing companies in the Unites States. National Beef processes, packages and delivers fresh and frozen beef and beef by-products for sale to customers in the U.S. and international markets. The transaction was previously announced on December 5, 2011.
As a result of the transaction, Leucadia owns a 78.95% interest in National Beef and the other members of National Beef, U.S. Premium Beef, LLC, NBPCo Holdings, LLC and Timothy Klein, National Beef's Chief Executive Officer, will hold a minority interest in National Beef. Leucadia anticipates that National Beef will continue to operate in the same manner and with the same management as was in place prior to the consummation of the transaction.
Source: Leucadia National Corp.