February 18, 2008

Tyson to fully acquire Brazil's Pena Branca
 

Privately held Brazilian chicken company Pena Branca has confirmed that Tyson Foods Inc. will be finalising 100 percent acquisition of its poultry operations in March.

Director of Pena Branca, Antenor Barros Leal, has estimated that the transaction will cost Tyson about BRL 130 million (US$74.2 million).

It has been reported that Tyson will acquire meatpacking units in Brazil's Sao Paulo, with a daily slaughter capacity of 320,000 chickens.

If the deal goes through, this will be Tyson's first chicken processing operation in Brazil.

Pena Branca is one of the leading whole frozen chicken brands in Sao Paulo. It processes about 300,000 chickens daily, and exports 40 percent of its production. It is part of the family-owned Predileto Alimentos holding company, which also owns Moinhos Cruzeiro do Sul, a wheat milling company.