US: Tyson mum on "Michael Foods bid"
Tyson "tables bid" for Michael Foods
According to Bloomberg, Tyson hopes to win through in an auction process expected to raise in the region of US$2bn. A spokesperson for the US protein group declined to comment.
Michael Foods was acquired in 2010 by Goldman Sachs' investment arm GS Capital Partners for US$1.7bn. Rumours that Goldman Sachs was seeking to offload the business emerged at the end of last year. Speculation has focused on Tyson as a potential strategic buyer, while a number of private-equity firms are said to be weighing up offers.
Michael Foods manufactures products under the Papetti's, Crystal Farms, AllWhites and Simply Potatoes brands. The group generates annual sales of around $1.5bn.
Tyson Foods is expanding its stable of value-added brands. It has indicated it wants to increase exposure to prepared foods in order to offset some of the swings in commodity prices associated with the protein markets.
Last year, sales of prepared foods accounted for just 10% of group revenue. However, Tyson plans to grow value-added sales and the company has realigned its management structure to reflect this aim - separating its prepared foods and chicken operating units.
Tyson Foods, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offeri...
Synopsis Canadean's "Michael Foods Group, Inc.: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contai...
Project Synopsis: MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity unde...
Synopsis Canadean's "Tyson Foods, Inc. : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile co...
- Premier Foods CEO expects UK supermarket rebound
- Unilever must "speed" response to consumer trends
- Briefing: The risks and rewards of e-tail in China
- Why US diet guidelines should consider environment
- Emerging markets online: India's food retail scene
- Post Holdings strikes deal to acquire MOM Brands
- Food industry news of week: Unilever, PepsiCo
- Chobani launches Tots infant range
- Tootsie Roll CEO Melvin Gordon dies at 95
- Premier Foods hails "improving" sales trends
- 10 Key Trends in Food, Health and Nutrition 2015
- The Sugar Backlash and its Effects on Global Consumer Markets
- The Future of Retailing in the UK to 2017
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- Meat Substitutes Market - Global Trends, Forecasts up to 2019