IBP, Inc.
From Wikipedia, the free encyclopedia
| IBP, Inc., | |
 |
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| Type | Defunct Public company |
|---|---|
| Founded | Denison, Iowa, 1960 |
| Headquarters | Dakota Dunes, South Dakota, USA |
| Industry | Meat packing |
IBP, Inc., formerly known as Iowa Beef Processors, Inc., was an American meat packing company based in Dakota Dunes, South Dakota, USA. The company was founded as Iowa Beef Packers, Inc. in March 17, 1960. IBP was the United States' biggest beef packer and its number two pork processor until it was acquired by Tyson Foods in 2001 for $3.2 billion USD in cash and stock.
In 1967, IBP introduced boxed beef and pork which were vacuum packed and in smaller portions. It was a new option during that time when the traditional method of shipping product was in whole carcass form. The boxed meat also saved energy and transportation costs by eliminating the shipment of fat, bones and trimmings.
In order to reflect the company's multiple operations, the company changed its name to Iowa Beef Processors, Inc. in 1970. After the company expanded operations to pork and other areas, Iowa Beef Processors, Inc., became IBP, Inc.
IBP had two business segments, Fresh Meats and Enterprises. Fresh Meats produces beef and processed beef and pork products which are marketed to customers such as grocery chains, meat distributors, wholesalers, and retailers. Enterprises segment delivers frozen and refrigerated food products for the food service industry.
[edit] References
- Iowa State University. Adding Value to Beef Production - Section 3.3 (PDF file). Retrieved on February 25, 2006.
- Ackman, Dan. "Men Of Meat", Forbes.com, January 2, 2001.
- Schlosser, Eric. "Fast Food Nation", Houghton Mifflin, 2002.
