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Innovative Livestock Services acquires Knight Feedlot
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Knight Land & Cattle Company announced late Tuesday that Innovative Livestock Services Inc. has agreed to purchase Knight Feedlot, Inc. located in Lyons. With the sale, ILS will acquire 100 percent control of KFL. This announcement does not involve Knight Land & Cattle Company, Knight Farms, or Bar-K-Bar Trucking.
Kenny Knight, CEO of Knight Land & Cattle Company said, “A single stand-alone feedlot struggles to compete with today’s market volatilities. ILS’s experience in the industry and its willingness to invest in commercial cattle feeding will ensure a solid growth strategy for KFL, its employees, and the local community.”
Lee Borck, Chairman and CEO of ILS said, “ILS is very excited to be adding such a high quality feeding operation to our family of nine commercial feedlots located throughout Kansas and Nebraska. Now with the addition of KFL, ILS will have a new feeding capacity of 170,000 head.”
ILS’s Board of Directors approved the “stock-for-stock” trade during its Oct. 31, 2013, Board of Directors meeting in Manhattan. ILS took control of KFL on Jan. 1.