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Japanese trader to acquire Creekstone Farms

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Posted by Don, Dueling Bubbas on July 20, 2017 at 14:33:28:

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Japanese trader to acquire Creekstone Farms

By Tom Johnston on 7/20/2017
Japanese trading house Marubeni announced today it will acquire Creekstone Farms from private-equity firm Sun Capital Partners.

Terms were not disclosed in either of the parties’ news releases, although Japanese news outlet Nikkei Asian Review reported the deal is worth about $170 million.

The move gives Marubeni, which already owns Australian beef interest Rangers Valley, a foothold in two of the world’s largest beef-producing and exporting countries and follows China’s recent announcement that it would lift a ban on beef from the United States.

Arkansas City, Kan.-based Creekstone Farms slaughters some 1,400 cattle per day. The company supplies national grocers and restaurants with Black Angus beef (as well as antibiotic-free Duroc Pork) and exports its products across Europe, Latin America and Asia.

“Through this acquisition, Marubeni aims to become a truly global company which contributes to a steady supply of safe, delicious beef while contributing to the society and local economy,” the company said in a news release.

Sun Capital acquired Creekstone in February 2005. Since then, it has grown its line of “all-natural” products to 22 percent of its production (from 5 percent) and expandedits international business by more than 800 percent, to make up about 20 percent of total sales, the firm said.

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