Source: National Beef Packing Co
National Beef Packing Company, LLC (National Beef), announced that it has approved a transaction that will result in it owning 100% of the ownership interests in Iowa Premium, LLC, (IP). 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.
Iowa Premium, located in Tama, Iowa employs over 800 people and processes approximately 1,100 head of Black Angus fed cattle per day. The company is well known for marketing high quality beef products worldwide under several proprietary brands including Iowa Premium Angus and Est. 8 Angus.
"I am excited to expand our beef operations with a processing facility in Iowa and we look forward to strengthening IP's relationships with the family farmers who produce the highest quality Black Angus cattle in the U.S.", said Tim Klein, President and CEO, National Beef, in making the announcement. "Iowa Premium fits perfectly with our value-based marketing strategy as we continue to provide our customers with the very best beef products and programs."