STX Beef Company (STX Beef), an affiliate of Houston-based JDH Capital, announced that its acquisition of Kane Beef Processing closed Feb. 28. The transaction places all current assets of Kane Beef under the control of STX Beef and clears the path for meaningful investment to revive company operations.
“We are excited to see this process reach a successful conclusion,” said Ryan Connelly, president of STX Beef. “Kane Beef has been serving ranchers, feeders and customers in South Texas and beyond for almost 70 years, and we look forward to restoring its legacy of providing high-quality beef sourced from trusted Texas beef producers. Our investment underscores our view that this is a tremendous opportunity – for the employees and their families, the community at large and for the many Texas ranchers that have relied upon this facility for generations.”
Connelly said the top priority moving forward is reopening the plant and returning Kane’s employees back to work.
“Now that the sale has closed, we have begun the process of securing the necessary permits needed and completing our ongoing review of the operation in order to successfully reopen the plant. STX Beef looks forward to resuming operations as soon as possible and we will provide updates to employees, cattle producers and customers as our efforts continue. There’s still a lot of work ahead, but it’s an exciting day for STX Beef.”