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SPRINGDALE, Ark., June 03, 2019 (GLOBE NEWSWIRE) -- Tyson Foods, Inc. (NYSE: TSN) announced today the successful completion of the acquisition of the Thai and European businesses from BRF S.A. The purchase includes four production facilities in Thailand, and one each in the Netherlands and the United Kingdom. These businesses build on the company’s growth strategy to expand offerings of value-added protein in global markets.
“The addition of this experienced and talented team combined with these businesses strengthens our capabilities and increases our reach to new markets. I’m glad to welcome them to the Tyson Foods family,” said Noel White, president and CEO of Tyson Foods. “We’re now strategically aligned to better serve customers in Europe, the Middle East, and Asia, building on our global strategy.”
It’s estimated that approximately 90 percent of global protein consumption growth will occur outside the United States, with 60 percent of the volume growth coming from Asia over the next five years.
The four plants in Thailand produce a wide range of fresh and frozen, value-added raw and fully cooked poultry products including highly specialized cuts for retail and foodservice customers throughout Asia and other markets, including Europe.
The processing locations in the Netherlands and the United Kingdom are supported by in-house innovation capabilities for developing further-processed chicken products for retail and foodservice customers throughout Europe. Products are sold under GrabitsTM, Hot ‘N’ Kickin’Chicken®, Speedy Pollo® and the Sadia® brands, in addition to key customer-owned brands.
“I’m excited to welcome our newest team members to Tyson Foods,” said Donnie King, group president of international and chief administration officer for Tyson Foods. “We’re working to make the integration of these operations as seamless as possible while maintaining high levels of service to our customers. This is a great team and I know they’re ready to work together as one company.”
About Tyson Foods
Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company had 121,000 team members at September 29, 2018. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding our company’s strategic plans and protein growth and consumption expectations, all of which involve a number of risks and uncertainties, including the impact of general economic, industry, market or political conditions; risks related to the ultimate outcome and results of integrating the new operations; the effects of the business combination on the company’s future financial condition and performance, operating results, strategy, and plans. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results and the timing of events may differ materially from the results and/or timing discussed in the forward-looking statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date of this communication, and Tyson Foods does not undertake any obligation to update any forward-looking statement except as required by law.
|Tyson Foods Contacts|
|Investors:||Jon Kathol , 479-290-4235|
|Media:||Worth Sparkman , 479-290-6358|
Category: IR, Newsroom