USCA Urges Review of Marfrig Global
Foods'
Acquisition
of National Beef
(WASHINGTON) - Today, the United States Cattlemen's Association
(USCA) submitted to U.S. Treasury Secretary Steven Mnuchin a request
for investigation of Marfrig Global Foods' near-acquisition of the
U.S. based National Beef Packing Company.
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% to 81.7%. In 2018, Marfrig acquired a majority stake in
National Beef Packing Company, but this recent announcement means that the
U.S.-based company will now be almost wholly owned by Brazilian interests.
The United States Cattlemen's Association (USCA) is firmly opposed
to the increasing consolidation of the meat-packing sector and
foreign ownership of U.S. agricultural interests. Our request for
investigation of these actions by the Committee on Foreign Investment in
the United States (CIFUS) 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.
USCA President Kenny Graner issued the following statement on the
investigation:
"Today, nearly 30 million acres of U.S. agricultural land is held by
foreign investors. Once Americans lose out on that capacity - whether it
be land, feedlots, meat processing facilities, or other resources - it may be
that we will never have the opportunity to buy it back. In short, the growing
trend of foreign interests acquiring U.S. agricultural resources
jeopardizes the ability of our nation to feed itself. In our view, this is
a direct threat to our democracy.
"We urge Secretary Mnuchin and the Committee on Foreign Investment in the United States to fulfill
President Donald Trump's campaign promise to put America first by ensuring
the long-term sustainability of America's farming and ranching
families."