AGR Partners buys 50% of the 4th largest cattle feeder Green Plains Cattle Company 

AGR Partners LLC ("AGR") with Green Plains Inc. ("GPRE") and StepStone Group ("StepStone") announce their joint venture to own and operate Green Plains Cattle Company LLC. As a part of the joint venture, AGR and StepStone have purchased 50% of the membership interests of Green Plains Cattle Company from Green Plains Inc. for approximately $77 million plus closing adjustments. The transaction was signed on September 6, 2019 with an effective date of September 1, 2019.

"We are excited about completing this transaction and the quality of investment partners who have aligned with us for the continued growth of Green Plains Cattle Company. This further validates the quality of the business we have built over the last several years, and allows us to form new relationships with long term investors," said Todd Becker, president and chief executive officer of Green Plains Inc.

"This strategic partnership demonstrates our ongoing commitment to unlocking value for our shareholders," added Becker.

"Green Plains Cattle Company has developed a solid reputation in the cattle feeding industry, and our management team and employees are excited to be part of this new venture," stated Joel Jarnagin, president and chief executive officer of Green Plains Cattle Company. "We are very optimistic for what the future holds and look forward to a successful long-term relationship as we continue to grow the business."

"AGR is pleased to partner with Green Plains and to work with Joel and the dynamic team he has assembled at Green Plains Cattle Company," said Daniel Masters, Managing Director of AGR Partners. "We look forward to being a supportive partner in the continued growth of Green Plains Cattle Company."

Green Plains Cattle Company is the fourth largest cattle-feeding operation in the United States with total capacity of more than 355,000 head of cattle at facilities in Colorado, Kansas, and Texas. 

The company began in 2014 with the acquisition of Supreme Cattle Feeders in Kismet, Kansas. The Kismet location has been feeding cattle since 1969, beginning with a small feedlot operation that has grown into a 70,000 head of cattle-feeling operation. 

In 2017, Green Plains Cattle Company added a 30,000 head operation located in Hereford, Texas, a 50,000 head operation in Eckley, Colorado, and a 105,000 head operation in Leoti, Kansas.

In 2018, Green Plains Cattle Company added a combined 100,000 head operation in Tulia, Texas and Sublette, Kanasas.