Tyson Foods has announced they have acquired majority ownership of one of the leading poultry processing businesses in India.
Tyson has acquired 51 percent ownership of Godrej Foods, Ltd., based in Mumbai. Godrej Foods is a subsidiary of Godrej Agrovet, Ltd., one of India's leading agribusinesses. The joint venture between Godrej Agrovet and Tyson will be called Godrej Tyson Foods. Annual sales for the venture are initially expected to be in the range of US$50 million and are anticipated to grow as operations are expanded.
The venture includes one chicken processing facility in Mumbai, in western India, and another in Bangalore, in the southern part of the country. The two plants have a combined production capacity of 60,000 birds per day. The Godrej processing operations are supplied by six contracted hatcheries and a network of contracted broiler operations, which produce live birds to the company's specifications.
"Poultry production and consumption is growing in India and we believe the timing is right for us to bring our expertise and resources to this emerging market," said Rick Greubel, group vice president and international president for Tyson Foods.
Tyson and Godrej plan to immediately initiate efforts to expand the capacity of the poultry plants already in operation. Efforts to build new processing plants in other parts of the country will likely begin within the next several years.
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About Godrej Agrovet Ltd.
