US agribusiness firm Cargill has signed a US$14.1m deal to buy a ground beef plant north of downtown Fort Worth from AFA Foods.
Cargill will purchase all working capital assets of AFA Foods, which filed for chapter 11 protection in April. The company said it bid only on AFA’s Fort Worth plant.
The sale is expected to close next week.
Cargill plans to retain the approximately 250 full-time ground beef production positions at the facility and to “invest appropriately there to ensure the plant’s ongoing competitive viability”, it said.