May 26, 2008

India's Godrej Group close to poultry JV with Tyson

India's Godrej Group is close to forming a joint venture with US Tyson Foods Inc. (TSN) for poultry processing and marketing, the Economic Times reported Monday (May 26, 2008), citing unnamed sources.

Tyson Foods is likely to hold 51 percent in the JV with Godrej Agrovet, a privately-owned Godrej Group company, the report said. The deal is likely to be finalized in June.

The JV will launch new processed and other poultry products, the report said. Godrej Agrovet's brands such as Real Good Chicken and Yummiez will be transferred to the JV.