As the federal government plans to lift the ban on beef imported from America, a USA-based company is preparing to take complete control of Teys Australia, the family-owned company which owns the beef production facility at Beenleigh.
Teys is Australia’s second-largest beef processor with 12 locations across the country, including its first production plant along Logan River Road.
The Beenleigh site was bought by the Teys family in 1954 when it was used as a cattleyard.
Recently, Teys Investments announced it had agreed to sell its 50% stake to Cargill, a US-based corporation that already owns the other half of the business.
Both owners have said the sale will mean “continuity for Teys’ people, partners and producers”.
“My grandfather started this business more than 75 years ago with his brothers, and the family values of integrity, quality and honesty have stayed constant as we’ve evolved into the global food brand we are today,” Teys executive chairman Brad Teys said.
“The Teys family is immensely proud to have grown our business into a premier provider of beef to our customers and Australian families.
“Cargill has been instrumental in our transformation into a world-class food company. We are confident they are the best owner to grow the business into the future.”
Cargill’s vice president Jon Nash said: “We are grateful to the Teys family for this opportunity to continue working alongside Australian livestock producers, who are pivotal to the agricultural supply chain, and to assure the delivery of high-quality and nutritious beef to family dinner tables across the country and globe.”
The business is expected to officially swap hands before the end of the year, subject to approvals.
Image: Teys Australia
