ACCC monitors possible sale of Teys to Cargill

  • January 20, 2011
  • Nicole Eckersley

The ACCC revealed on Tuesday that it has begun monitoring press speculation regarding a possible merger between Cargill and Teys Bros.

James Packer’s 51% stake in Australia’s second-largest beef processing company may be on the table for $500 million, according to the Australian Financial Review.

Teys Bros is the largest Australian-owned beef processor in the country, second only to Brazilian meat giant JBS Swift.

Teys Bros was affected by the Queensland flooding, with processing plants closed at Rockhampton and Biloela (including some flooding at Rockhampton), road and rail routes damaged, and the company’s feedlot affected by evacuation of employees from nearby Condamine. Despite this, the company managed to donate $50,000 to flood relief efforts.


Bookmarks

  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Furl
  • Netvouz
  • NewsVine
  • Reddit
  • Fark
  • Propeller
  • Slashdot
  • StumbleUpon
  • Technorati

Reader Comments

Australian Food News reserves the right to edit or not publish comments of a potentially offensive or defamatory nature. Comments will not be published if name and email address has not been provided (name and email will be withheld if requested).

The opinions expressed below are those of Australian Food News readers and do not necessarily reflect those of Australian Food News.