Brazilian meatpacker sells US cattle feedlot operations

GREELEY, Colo. (AP) — A Brazilian meatpacking company has sold its U.S.-based Five Rivers Cattle Feeding operation as part of a $1.8 billion divestment of assets.

JBS, the world’s largest meatpacking company, was fined $3.2 billion after company leaders acknowledged paying about $150 million in bribes to Brazilian politicians to help it gain financing to expand the company.

The Greeley Tribune <a target=”&mdash;blank” href=”https://www.greeleytribune.com/news/business/jbs-200-million-sale-of-five-rivers-cattle-feeding-final/”>reports</a> JBS sold Five Rivers Cattle Feeding to Pinnacle Asset Management for $200 million in a deal that closed Friday.

The feeding operations — which includes 11 feed yards in six states — will be managed by Acadia Asset Management and Ospraie Management.

JBS’s U.S. operations are based in Greeley. It also has feeding operations in Arizona, Idaho, Kansas, Oklahoma and Texas.

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Information from: The Tribune of Greeley, Co, <a target=”&mdash;blank” href=”http://greeleytribune.com”>http://greeleytribune.com</a>

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