User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

64° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options




[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Beef Plant Sale Finalized, Future Still Unknown

April 2, 2014, 6:15 PM by Erich Schaffhauser

Beef Plant Sale Finalized, Future Still Unknown

A beef plant near Aberdeen is officially sold but we still aren't sure what its future holds.

White Oak Global Advisors finalized its purchase of Northern Beef Packers Tuesday. It isn't sharing details at this point of what will happen with the property. It established a new entity, New Angus, which purchased the plant.

A news release says White Oak has confidence in the facility's future as an operating plant. Julie Johnson with Absolutely! Aberdeen is optimistic after talking with White Oak representatives.

"We're very encouraged. They bring a real professional attitude to the entire transaction. I do believe they will do it right. I don't believe there will be a race to do it too fast so I have a lot of confidence in the folks that we've already met with White Oak," Johnson said.

Johnson is confident the plant will be up and running in the future. According to the release from the company, White Oak is still evaluating its options. It submitted a top bid of more than $40 million for the plant in December.

Robert Preston is an assistant professor at Northern State University School of Business. He says he would expect White Oak to sell to another company which wants to operate a processing plant. But he says other scenarios could play out as well, including finding people to manage the plant.

Either way, Preston says, White Oak no doubt has a plan to be profitable.

"These are people who make their living doing this and they don't do it wrong very often or they wouldn't make a very good living," Preston said.

There's been $1 million set aside for unsecured creditors which include workers owed back wages. An Aberdeen lawyer says he expects that to be released soon.

Previous Story

Next Story


Find Local Businesses on KELO Pages!

View business

You may also like

PREMIER Bankcard Lawsuit Comes Down To Link

8/22/2014 10:00 PM

$5 million: that's the price tag on a lawsuit filed by a South Dakota credit card company, First PREMIER/PREMIER Bankcard against a credit card co...

Full Story | Watch
Single-Screen Theater Closed After Four Decades

8/23/2014 12:33 PM

A single-screen movie theater in Vermillion has closed after serving the area for more than four decades.

Full Story
Sioux Falls Store Included In UPS Breach

8/21/2014 1:53 PM

If you used a credit or debit card at a UPS Store in the last seven months, some of your personal information could be a risk.  

Full Story
Woman-Owned Highway Construction Company

8/21/2014 10:05 PM

There are nearly eight million women owned businesses in the U.S.  But only eight percent of construction businesses are owned by women. 

Full Story | Watch
Napa Winery With SF Ties Recovers From Earthquake Damage

8/24/2014 6:35 PM

A Napa Valley winery with Sioux Falls ties received damage from the largest earthquake to hit the bay area in 25 years.

Full Story