July 30, 2014

Tyson to sell poultry businesses in Mexico and Brazil

Tyson Foods will be selling its Mexican and Brazilian poultry businesses for US$575 million in order to pay off a debt which comes with the acquisition of Hillshire Brands, the company announces.

Tyson says it still plans to expand its international operations, especially in Asia. However, the latest sales of businesses are insufficient to gain leading market positions.

The company expects the sale to JBS SA to be completed by the end of the year. JBS SA is the parent of JBS USA Holdings Inc., which owns Pilgrim's Pride.

Tyson's Mexican and Brazilian operations employ more than 10,000 people combined.

Tyson Foods Inc. recently announced the planned closure of three U.S. plants which have struggled financially. Those plants employ a total of 950 workers.