Tyson Foods has purchased three Brazilian poultry companies.
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The company said today (18 September) that it will acquire 100% of Macedo Agroindustrial and Avicola Itaiopolis, both based in Santa Catarina, and a 70% stake in Frangobras, based in Parana.
Santa Catarina and Parana are major corn and soy production states and both have access to ports.
Tyson said it planned to double production at the Macedo plant to 176,000 birds per day and to increase daily chicken production to 320,000 birds at the Avita and Frangobras plants.
Terms of the deal were not disclosed, but the US meat company said it expects to close the transactions in the next 60 days.
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By GlobalDataA spokesperson for Tyson told just-food that these investments will mark Tyson’s entry into the poultry-processing sector in Brazil and the businesses will be integrated into Tyson’s international businesses.
Tyson is facing challenging economic conditions in the US and is increasingly looking overseas to boost profitability.
“The three companies will be integrated into Tyson’s international operations. International operations are indeed important to Tyson’s overall business and growing our business internationally is a core strategy for the company,” the spokesperson said.
