USCA Urges Review of Marfrig Global Foods’ Acquisition of National Beef

The United States Cattlemen’s Association Tuesday submitted a request seeking an investigation of Marfrig Global Foods’ “near-acquisition” of the U.S.-based National Beef Packing Company. The organization sent the request to U.S. Treasury Secretary Steven Mnuchin. The Brazilian-owned Marfrig Global Foods announced last week that it raised its stake in the U.S.-based National Beef Packing Company from 51 percent to 81.7 percent. In 2018, Marfrig acquired a majority stake in National Beef Packing Company, but USCA says this recent announcement means that Brazilian interests will almost wholly own the U.S.-based company. The association is “firmly opposed to the increasing consolidation of the meat-packing sector and foreign ownership of U.S. agricultural interests.” USCA wants the Committee on Foreign Investment in the United States to investigate the matter, and demands a full review of Marfrig Global Foods’ acquisition of U.S. companies, and calls for those outcomes to be explicitly written out and publicly published.