National Beef Packing Company announced Thursday that its wholly-owned subsidiary National Beef Leathers, LLC has entered into an asset purchase agreement where it would acquire certain assets and assume certain liabilities of Prime Tanning Corp. located in St. Joseph, Mo.
The transaction is subject to certain conditions including the satisfactory completion of due diligence, according to a press release from the company.
The acquisition price was not disclosed.
This purchase enables National Beef to expand into wet blue tanning, a process that involves specialized technology and expertise that produces the raw material used by finished leather manufacturers. The St. Joseph facility will process hides from National Beef’s beef processing facilities, thus delivering quality control through the entire process including wet blueprocessing, sales and marketing.
KANSAS CITY, Mo. —
