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The Brazil headquartered meatpacking giant has announced that its Canadian subsidiary, JBS Food Canada Inc., has reached an agreement to sell its beef cattle feedlot, Lakeside Feeders, and adjacent farmland in Brooks, Alberta, to MCF Holdings for CAD50 million (US$40 million).
According to the meatpacker, under terms of the agreement, MCF will continue to supply cattle to the JBS Canada beef processing facility in Brooks. Acquired by JBS in 2013, Lakeside Feeders, which formed JBS Food Canada, is one of the biggest feedlots in the country with a capacity of 75,000 head.
Completion of the transaction is subject to regulatory review and approval.