National Beef buys tanning business
4 March 2009National Beef Packing subsidiary National Beef Leathers have agreed to acquire certain assets of Prime Tanning Corp. Terms of the acquisition were not disclosed.National Beef will use the purchase of the St Joseph, Mo, facility to expand into wet-blue tanning, and will process hides from National Beef's beef processing facilities.
‘This acquisition allows National Beef to expand our value-based marketing strategy into the wet-blue hide business', National Beef CEO John Miller said in a statement. ‘The bovine hide business has traditionally been commodity driven; owning a wet-blue tannery will allow us to add significant value to the hides that we produce in our beef processing facilities.'
The acquisition comes just one week after National Beef and JBS SA announced the end of their proposed merger.
Source: Meatingplace.com
