BROOKS, Alberta – Tyson Foods Inc. said Thursday that it has reached a preliminary agreement to sell Lakeside Farm Industries Ltd. and its subsidiary Lakeside Packers to Canadian beef processor XL Foods Inc.
The company signed a letter of intent on Thursday that will sell the packing, feedyard and fertilizer assets of Lakeside in a deal worth approximately $105 million. XL Foods and Tyson expect to complete the deal by the end of September.