Tyson Eyes New Brazilian Interests

US - It is reported that Tyson Foods has bought three Brazilan poultry companies.
calendar icon 18 September 2008
clock icon 2 minute read

Tyson Foods Inc., the second-largest U.S. chicken producer, bought three Brazilian companies for an undisclosed amount, marking the company's entry into the market, reports Bloomberg News.

Rick Greubel, president of Tyson International, is expected to provide more details on the acquisitions today (18 Spetember) at a news conference.

Despite the tighter credit issues on Wall Street, Springdale-based Tyson Foods Inc. has been on an international shopping spree according to The Morning News of north-west Arkansas.

Guilherme Sierra, an outside spokesman for Tyson in Brazil, reportedly declined to comment on the recent purchases.

The acquisitions mark Tyson's entry into the coveted Brazilian market, after the meat giant lost out in March on the acquisition of Pena Branca, the largest poultry processor in Brazil.

In February, Pena Branca announced it intended to finalize an agreement with Tyson Foods for roughly $74.4 million but the deal fell through. Brazilian meatpacker Marfrig paid $53 million for Pena Branca.

Tyson Foods said at the time the company remained committed to establishing a presence in Brazil.

Brazil is the world's biggest exporter of beef and poultry, The Morning News reports.

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