Thursday, August 02, 2018

Bartlett Exits Cattle Feeding; Green Plains Expands to 355,000 Head

Green Plains Inc. is continuing to grow its cattle feeding segment with the purchase of Bartlett Cattle Co. Bartlett & Co. agreed to sell its two feedlots to Green Plains Cattle Company for $16 million, plus working capital. Included in the transaction are Bartlett Cattle’s feedlots in Sublette, Kansas, and Tulia, Texas, with a combined capacity of approximately 97,000 head. The move effectively ends more than 30 years of cattle feeding for Bartlett & Co. which will continue to focus on its grain merchandising, flour milling and feed manufacturing. The purchase results in Green Plains Cattle feeding operations reaching a onetime capacity of 355,000 head. Included in the purchase is approximately 2,100 acres of land with additional grain storage and access to the Ogallala Aquifer. The working capital in the acquisition includes cattle, grain and other inventories totaling approximately $109 million...MORE

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