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Thu March 13, 2008
Brazilian Company Plans to Buy Major U.S. Beef Packers
By Frank Morris
KANSAS CITY, MO – If you eat a steak or burger today, chances are one of five big beef packing companies had something to do with it. This time last year those companies were all U.S.-owned. But Brazilian-based JBS, has bought, or announced plans to buy, three of the five, capturing the attention of industry analysts like Steve Kay.
"They've executed a stunning coup d'etat in the meat packing industry. They've come out of nowhere to turn the structure of the industry on its head," Kay said.
Now that troubled industry, which has strong ties to Kansas City, is trying to figure out which way is up. KCUR'S Frank Morris reports.
(4 min 17 sec)