Drums National Beef
Brazilian packer firm Marfrig is preparing for a return to the tanning industry. It has confirmed to World Leather that its move to acquire a controlling stake in National Beef will mean taking control of the US company’s entire balance sheet, including National Beef Leathers and the wet blue tannery it operates in St Joseph, Missouri.
“This means taking control of all parts of the company,” Marfrig said, “and we have no intention of selling off any part of it.”
It confirmed that, at present, it is making no leather from the hides its abattoirs generate. Therefore, taking over National Beef Leathers when the deal is approved will mean a return to the leather industry for Marfrig after a five-year absence.
In 2009, Marfrig acquired a 51% stake in automotive tanning group Zenda (formerly Branáa in Montevideo). It sold its equity in Zenda to rival group JBS in 2013.
Information courtesy of Leatherbiz