Green Plains Renewable Energy INC. (GPRE)

[eFinanceMarkets]

Green Plains to buy two cattle-feeding operations from Cargill for $36.7M

Green Plains (GPRE +1.9%) agrees to acquire two U.S. cattle-feeding operations from Cargill for $36.7M, excluding working capital.

GPRE says the deal will add capacity of 155K head to its operations, and will boost the company to the fourth largest cattle feeding operation in the U.S., with total capacity of more than 255K head.

As part of the deal, GPRE also will enter into a long-term supply agreement with Cargill to supply cattle from the two locations as well as its existing feedlot in Kismet, Kan.