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Veteran Advisor

National Beef acquiring Iowa Premium Packing plant

Noticed  a  headline  of  National  Beef ,   buying  Iowa  Premium  Packing  Company  of  Tama  Iowa,   has  had  very  few  headlines  -  -  -

 

BA  - or  anyone  else  know  the  details -  ? 

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4 Replies
Advisor

Re: National Beef acquiring Iowa Premium Packing plant

yes, National is expanding.

 

also Central Valley Meats and Harris Ranch Beef are merging....makes the combo the 7th largest beef packer.

more importantly the Harris Ranch Feeding Co is in the merger....that's a bunch of cattle on feed there.

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Veteran Advisor

Re: National Beef acquiring Iowa Premium Packing plant

Merging  - define  =  amalgamate,   consolidate,   integrate   -   -    -

 

 

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Honored Advisor

Re: National Beef acquiring Iowa Premium Packing plant

R-Calf is challenging the acquisition:

 

http://www.tamatoledonews.com/page/content.detail/id/608442/Sale-of-Iowa-Premium-faces-a-challenge-f...

 

 

An organization billed as "fighting for the independent U.S. beef producer" asked U.S. Attorney General William Barr to block the sale of Iowa Premium at Tama to National Beef Packing Company on Friday, March 29.

R-CALF USA reported in a news release a nine-page objection had been submitted stating in part,"that National Beef's acquisition of Iowa Premium will substantially reduce competition for fed cattle regionally as well as nationally, thus harming independent U.S. cattle producers and will also likely substantially reduce competition for boxed beef, which will harm American consumers."

National Beef announced on March 11 its intent to acquire Iowa Premium the Tama plant operation.    

 

 

Iowa Premium at Tama which employs 850 in beef production.
-News-Herald file

 

The News-Herald has sought reaction from Iowa Premium and National Beef but had received no replies at press deadline.

Jeremy Edwards, a spokesperson for the Department of Justice Offcie of Public Affairs said the office "has no comment" in an email to The News-Herald Wednesday.

The announcement noted "the transaction is subject to customary conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the second quarter of 2019.:

The letter is reported to claim National Beef, hadquartered in Kansas City, is a member of what iss termed "The Big Four" meat packers cartel which R-CALF USA says contols 85 percent of the U.S. fed cattle market.

It goes on to charge the Iowa-Minnesota cattle market is "last bastion of robust regional competition for fed cattle and the "Big 4 cartel" will "limit access to the marketplace unless producers become certified under the Beef Quality Assurance (BQA) program"

IowaPremium reopened the Tama beef plant, known locally for many years as "Tama Pack" in 2014 after reportedly upwards of $50 million was spent by Sysco Foods to modernize and enlarge the facility. The plant employs more than 850.

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Veteran Advisor

Re: National Beef acquiring Iowa Premium Packing plant

We   shall  see  if  your  Iowa  Senator  has  the  same  concern  about  this  consolidation,  as  was  voiced  several  times  in  the  past  on  everything  from  seed  to  meats - ? 

 

Always  keep  in  mind ,  BIG Ger   is  BetteR ,  I've  heard  said,  with  the  backroom  whispers,  closed  door ,  eXecutive  secessions,  seem  to  prevail  -? 

 

Realizing  where  would  we  be  if  we  hadn't  sprayed  our  way  to  the  promised  land ,  and  rid  ourselves  of  those  terraces  and  darned  grass  waterways - ?

R- Calf  is  also  revisiting  the  ''  mandatory  check-off  ''  marketing  scheme  that  was  implemented  in  the  80's ,  which  leaves  me  wondering  how  the  N C B A  will  &  others  will  checkoff  the  meatless  burger  producer  - ?  ?  ?    

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