Creekstone purchased by Japanese trading house
General trading group Marubeni Corp. from Japan has acquired the US-based beef and pork supplier Creekstone Farms from Sun Capital Partners. Terms of the deal were not disclosed, but multiple sources have reported that the purchase is of around 170million USD, including debt.
The rationale for the transaction is in anticipation of greater exports to China, following the lift of a ban on US cattle by Beijing in June. Marubeni expects the appetite for premium US beef to grow as China’s middle class expands. Through this acquisition, Marubeni aims to become a truly global company, which contributes to a steady supply of safe, delicious beef. Creekstone Farms is one of the best known beef supplier in the US and also exporting to some of the country’s top grocers and restaurants with Black Angus beef and antibiotic-free Duroc pork and is the twelfth largest US beef producer by volume. Creekstone Farms processes about 1,400 cattle per day and recently added pork products to its offerings.