MEXICO - Mexico’s Federal Economic Competition Commission has approved the sale of Tyson Foods’s poultry business in Mexico to Pilgrim’s Pride, which is part of a wholly-owned subsidiary of JBS SA.
The commission, which has been reviewing the transaction, recently voted to permit the deal to proceed.
“We appreciate the attention and efforts of the Commission and will now move forward with Pilgrim’s Pride to complete the deal,” said Tyson President and CEO Donnie Smith.
“We’ve not set a closing date but believe it will be soon.”
Tyson Foods and Pilgrim’s Pride reached a definitive agreement on the sale last July. The Mexican business, known as Tyson de México, is a vertically integrated poultry business based in Gomez Palacio in North Central México.
It employs more than 5,400 people in its offices, three plants and seven distribution centers.
After the sale is completed, Tyson Foods will continue to serve customers in Mexico. The company will supply them with US-produced chicken as well as chicken produced in Mexico, in part through a co-packaging arrangement with Pilgrim’s Pride.
Tyson Foods, Inc. is one of the world's largest producers of chicken, beef, pork and prepared foods.ThePoultrySite News Desk
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