May 2, 2013 1:40 PM
CORPUS CHRISTI - There's big business news as a Houston group headed by Lou Waters announce they're acquiring the Sam Kane Beef packing plant in Corpus Christi.
It's the only beef packing plant south of Amarillo. 739 people work at the plant. Waters has been given a $3 million tax incentive plan to help retain those jobs and add 100 more in four years time.
The Corpus Christi City Council still needs to ratify the deal and we're told that likely won't happen until the end of the month.
Waters says he'll become the new president and CEO of the plant which has been in operation since 1949.