HOUSTON – April 9, 2024 – King Ranch, Inc. announced today that it has acquired a 50% stake in Cobalt Cattle, the nation’s fourth-largest cattle feeding operation with six feedyards in Colorado, Kansas and Texas.

“We are excited about this opportunity and what it means for King Ranch’s long-term commitment to the beef industry,” said Robert Hodgen, CEO of King Ranch, Inc. “Cobalt Cattle is a clear leader in the cattle feeding sector with a highly seasoned and experienced management team. We look forward to leveraging our combined industry expertise while upholding our shared commitment to the highest standards of excellence.” The acquisition represents the next step in King Ranch’s long-term strategic vision to participate throughout various sectors of the beef industry, fortifying the entire value chain. Hodgen says, “Our goal is to align with partners like Cobalt Cattle to consistently bring nutritious and delicious beef to the American consumer.” 

“We are proud to partner with King Ranch,” says Ejnar Knudsen, CEO of AGR Partners, Cobalt Cattle’s growth equity partner. “We are looking forward to continued success in the Cobalt Cattle business alongside an industry leader with a complementary strategic vision.” 

“Cobalt Cattle looks forward to partnering with King Ranch and achieving the long-term benefits of working together while building an enduring legacy in the cattle industry,” says Joel Jarnagin, president and CEO of Cobalt Cattle. “King Ranch is well known and their desire to partner with Cobalt Cattle is a testament to the discipline and operational excellence the Cobalt Cattle team brings each day.” 

King Ranch has a long and storied history in the cattle business, including participation in some of the first cattle drives in the U.S., helping found industry associations such as the Texas and Southwest Cattle Raisers Association (www.tscra.org) and developing the Santa Gertrudis breed of cattle. Those same Santa Gertrudis genetics, crossed with Red Angus for over three decades, are uniquely bred to thrive in the harsh South Texas climate while delivering the high-quality, consistent eating experience that consumers have come to expect from U.S. beef.AGR Partners is a specialist food and agribusiness investor that provides long-term capital to grow industry leaders. For more information, visit www.agrpartners.com/investments