Pinnacle Asset Management to acquire Five Rivers Cattle Feeding from JBS USA
Five Rivers Cattle Feeding is said to be the largest cattle feeding operation in the world.
Pinnacle Asset Management, L.P., a New York-based commodities and natural resources investment firm, announced plans to acquire the U.S.-based cattle feeding assets and farms, collectively known as Five Rivers Cattle Feeding, from JBS USA, Greeley, Colo., for approximately $200 million.
Five Rivers Cattle Feeding is said to be the largest cattle feeding operation in the world. The transaction includes 11 feed yards across Arizona, Colorado, Idaho, Kansas, Oklahoma and Texas, with feeding capacity of more than 900,000 head of cattle and a long-term agreement to supply cattle to JBS USA beef processing plants. The current Five Rivers management team will remain in place, led by president and CEO Mike Thoren, to ensure business continuity and build upon Five Rivers’ strong track record of innovation and stewardship.