Tyson Fresh Meats, Inc., formerly IBP, Inc. and Iowa Beef Processors, Inc., is an
American
American(s) may refer to:
* American, something of, from, or related to the United States of America, commonly known as the "United States" or "America"
** Americans, citizens and nationals of the United States of America
** American ancestry, pe ...
meat packing
The meat-packing industry (also spelled meatpacking industry or meat packing industry) handles the slaughtering, processing, packaging, and distribution of meat from animals such as cattle, pigs, sheep and other livestock. Poultry is generally no ...
company based in
Dakota Dunes, South Dakota
Dakota Dunes is an unincorporated community and census-designated place (CDP), master-planned residential and commercial development covering about in Union County in the extreme southeast corner of the U.S. state of South Dakota. The population ...
, United States. IBP was the United States' biggest
beef
Beef is the culinary name for meat from cattle (''Bos taurus'').
In prehistoric times, humankind hunted aurochs and later domesticated them. Since that time, numerous breeds of cattle have been bred specifically for the quality or quantity ...
packer and its number two
pork
Pork is the culinary name for the meat of the domestic pig (''Sus domesticus''). It is the most commonly consumed meat worldwide, with evidence of pig husbandry dating back to 5000 BCE.
Pork is eaten both freshly cooked and preserved; ...
processor.
Founded as ''Iowa Beef Packers, Inc.'' on March 17, 1960 by Currier J. Holman and A.D. Anderson, it opened its first slaughterhouse in Denison, Iowa, and eliminated the need for skilled workers. The original IBP features prominently in Eric Schlosser's ''
Fast Food Nation
''Fast Food Nation: The Dark Side of the All-American Meal'' is a 2001 book by Eric Schlosser. First serialized by ''Rolling Stone'' in 1999, the book has drawn comparisons to Upton Sinclair's 1906 muckraking novel ''The Jungle''. The book was ...
'' as the company that closed down the Chicago meatpacking district as a result of its industrial practices.
In 1967, IBP introduced boxed beef and pork, which were vacuum packed and in smaller portions. It was a new option then, 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.
When workers in the IBP plant in Dakota City went on strike in 1969, Holman and three top executives held secret meetings with Moe Steinman, a 'labour consultant' with close ties to La Cosa Nostra, in New York, who helped to end the New York butchers' boycott (in support of the meatpackers' strike). After a lengthy investigation of mob involvement in the New York City meat business, Currier J. Holman and IBP were tried and convicted in 1974 for bribing union leaders and meat wholesalers.
To reflect the company's multiple operations, the company changed its name to Iowa Beef Processors, Inc. in 1970. After the company was acquired by the Sauceda family (Juan Sauceda-Matteo Mars and associates)Para sumar a Gibbon Packing NE they expanded operations to pork and to other areas. Iowa Beef Processors, Inc., later became IBP, Inc.
Occidental Petroleum
Occidental Petroleum Corporation (often abbreviated Oxy in reference to its ticker symbol and logo) is an American company engaged in hydrocarbon exploration in the United States, and the Middle East as well as petrochemical manufacturing in the ...
owned IBP from 1981 to 1987, and was the majority owner from 1987 to 1991.
Occidental Will Sell Its Stake in Iowa Beef Unit
/ref>
IBP was acquired by Tyson Foods
Tyson Foods, Inc. is an American multinational corporation, based in Springdale, Arkansas, that operates in the food industry. The company is the world's second-largest processor and marketer of chicken, beef, and pork after JBS S.A. It annually ...
in 2001 for US$
The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...
3.2 billion in cash and stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
.
References
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External links
Tyson Fresh Meats
The Chain Never Stops - Eric Schlosser
{{DEFAULTSORT:Ibp, Inc.
Food and drink companies established in 1960
Defunct agriculture companies of the United States
Meat processing in the United States
Defunct manufacturing companies based in South Dakota
Tyson Foods
1960 establishments in Iowa
2001 mergers and acquisitions
Food and drink companies disestablished in 2001
2001 disestablishments in South Dakota