Smithfield Foods bought MF Cattle Feeding from ConAgra Foods on Tuesday to expand its beef business. Terms of the deal were not disclosed.
The principal assets of MF Cattle Feeding are three feedlots in Colorado and one in Idaho with a combined capacity of 357,000 head of cattle, the Smithfield, Va.-based company said in a statement. The acquired assets do not include any animals currently in the feedlots.
The Packerland unit of Smithfield, which has the fifth-largest beef business in the United States, will operate the feedlots. Before the acquisition, Smithfield’s Web site said that it processes more than 2 million head of cattle annually, generating sales in excess of $2 billion.