Leucadia on the verge of exiting National Beef business
Leucadia owns 79% of the National Beef, a 26-year-old supplier of steaks, hamburger, and other beef products but a final decision hasn’t been made yet, informs Yahoo Finance.
An exit will be contrary to the market development in the last two years, and 2018 is considered to be the year when the industry is expected to rebound.
According to sources familiar with the matter, Leucadia is exploring options with external advisors for the stake bought for 868 million USD in 2011. Still the process is on an early stage and Leucadia could opt not to move forward.
National Beef is one of the Leucadia’s biggest businesses and it is ranked as the fourth-largest U.S. beef processors behind Tyson Foods Inc., JBS SA and Cargill Inc.
National Beef reported losses in 2013, 2014 and 2015 but jumped to profit in 2016 (329 million USD) and in the first three quarters of 2017 (310 million USD). Leucadia listed the net book value of its National Beef investment at 629.8 million USD as of Dec. 31, 2016.
The company slaughters about 12.5% of U.S. beef cattle. Beef exports in the US climbed 13% in 2017. led by growing sales to Japan, Hong Kong and Korea. Foreign sales of U.S. beef are projected to climb another 4.5% in 2018.
"The measure responds to demands from the productive sector, which asked for more time to adapt t...
More than 200 representatives of the French livestock sectors met on January 30, 2025, at the pre...
After the outbreak of small ruminant plague in Szentgyörgyvölgy on January 24, 2025, su...
