Cargill to buy out beef processor Teys Investments
US-based agri-food company to take over long-standing joint venture partner
USA – Cargill is in the process of taking full ownership of beef processor Teys Investments after agreeing to purchase the remaining shares from the Teys family.
The acquisition will be carried out through an undisclosed wholly owned subsidiary of the US company and will give Cargill complete control over Teys Australia and Teys USA.
Both subsidiaries have been jointly operated under a 50-50 partnership between Cargill and the Teys family since 2011.
The financial details of the deal have not been disclosed, but it is expected to close in the second half of 2025, subject to regulatory approvals and standard closing conditions.
Teys, which was founded in 1946 by the Teys family, stated that the timing was right to pass full ownership to Cargill, citing long-term continuity for employees, suppliers, and industry partners.
Brad Teys, who serves as executive chairman of Teys, acknowledged the partnership’s evolution and said Cargill is best positioned to lead the business forward.
Cargill executive vice-president Jon Nash noted that both companies share similar values as family-founded businesses with a focus on food production for local and global markets.
Once the transaction is complete, Cargill plans to appoint a new CEO for Teys and work alongside Brad Teys to ensure a smooth handover.
Investment in beef processing technology continues
Alongside the acquisition, Cargill is investing around US$90 million (US$90m) into automation and technology enhancements at its beef facility in Fort Morgan, Colorado.
The upgrades are part of its broader Factory of the Future initiative, which aims to streamline production and raise yield levels across its meat processing operations.
Since 2021, the company has allocated approximately US$24 million (US$24m) to technology improvements at the Colorado site.
Included in the new investment is the deployment of CarVe, Cargill’s proprietary computer vision system designed to assess red meat yields in real time.
The company said the system enables production managers to provide immediate feedback on cutting performance, reducing waste in the process.
Cargill said CarVe helps retain more protein in the supply chain that would otherwise be lost during trimming and handling.
This latest development follows other recent changes within the company, including the planned closure of its Springdale, Arkansas, turkey plant, with most operations shifting to Missouri and Virginia.
In December, Cargill also confirmed it would reduce its global workforce by 5%, translating to approximately 8,000 job cuts based on its latest headcount figures.
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