U.S. Markets closed

JBS acquiring 2 XL Foods beef packing plants in US

GREELEY, Colo. (AP) -- JBS USA says it intends to complete its purchase of two XL Foods beef packing plants in the U.S., effective Monday.

JBS USA is taking over a plant in Omaha, Neb., that can process 1,100 head of cattle per day and another plant in Nampa, Idaho, that is idle. JBS said Thursday it has no immediate plans to reopen the Idaho facility.

In October, JBS said it had agreed to pay $50 million in cash and $50 million in JBS shares if it exercised an option to buy the two U.S. plants; two beef packing plants and a feedlot in Canada; and adjacent farmland that supports the feedlot operation from XL Foods. JBS completed the acquisition of the Canadian properties in January.