GREEN Plains Inc. announced last week that is has acquired the assets of Supreme Cattle Feeders from Agri Beef Co.
The asset acquisition includes the feedyard doing business as Supreme Cattle Feeders and the Cimarron Grain storage facility based near Kismet, Kan.
The operation consists of approximately 2,600 acres of land, with 800 acres allocated to the feedlot operation, which has the capacity to support 70,000 head of cattle. Its current corn storage capacity, including the Cimarron Grain facility, is approximately 3.8 million bu.
Supreme Cattle Feeders will remain a custom cattle feeding business that will continue to operate under its current name and under the direction of its current management team, with transition support from Agri Beef. Its financial results will be reported as part of Green Plains' agribusiness segment.
Agri Beef, which has owned and operated Supreme Cattle Feeders for the past 19 years, will continue its relationship as a cattle feeding customer of Supreme Cattle Feeders.
"Supreme Cattle Feeders is one of the premier cattle feedyards in the U.S., and this operation is an ideal adjacent business for Green Plains," Todd Becker, president and chief executive officer of Green Plains, said. "The custom cattle feeding business gives us the ability to further process our distillers grains and corn oil and extend our corn origination network. We also believe that this transaction will be accretive to 2014 earnings."