National Beef Packing Co. has announced plans to buy an Iowa-based producer of specialty beef products.
National Beef plans to acquire Iowa Premium LLC, a company based in Tama, Iowa, that specializes in Black Angus beef. Terms of the sale were not announced. It is subject to regulatory approval and is expected to close in the second quarter of 2019.
Iowa Premium has 800 employees and processes more than a thousand head of Black Angus cattle a day.
Based in Kansas City, Mo., National Beef Packing has operations in Missouri, Kansas, Pennsylvania and Iowa. It is majority-owned by Brazilian meatpacker Marfrig Global Foods and had estimated sales of $2.2 billion last year.