According to the Nikkei Asian Review, Japanese trading house Marubeni has added a U.S. beef processor to its portfolio, anticipating greater exports to China after Beijing lifted a long-standing ban on meat from American cattle in June. Creekstone Farms, a distributor of premium beef, has been acquired in a deal worth about $170 million, including liabilities. With the resumption of American beef exports to China, Marubeni expects the country’s appetite for the meat to grow as its middle class expands. Creekstone, which recorded $550 million in sales last year, processes beef for sale to supermarkets and restaurants. It is the 12th biggest U.S. beef producer by volume and among the top processors of premium beef. In 2016, Creekstone processed about 250,000 head of cattle, with about 80 percent of the beef going to U.S. consumers and the rest shipped to Europe, Japan and other countries. Read more…
Recent Posts
Crime Watch: Cattle missing near Fort Worth
Texas & Southwestern Cattle Raisers Association Special Ranger Marvin Wills, District 15 in …
Continue Reading about Crime Watch: Cattle missing near Fort Worth
Crime Watch: Pickup stolen near Castroville
Texas & Southwestern Cattle Raisers Association Special Ranger Tony Ashley, District 28 in …
Continue Reading about Crime Watch: Pickup stolen near Castroville
Texas crop progress and condition for July 6
While isolated areas of the Upper Coast received considerable rainfall, most of the state received …
Continue Reading about Texas crop progress and condition for July 6