Terms of the planned Brazilian transactions were not disclosed, however, company officials confirmed Tyson will acquire Macedo Agroindustrial and Avícola Itaiópolis (Avita), both located in the state of Santa Catarina, and will initially have 70 percent ownership of Frangobrás in the state of Paraná. Tyson reportedly expects to conclude all three transactions in the next 60 days.
Our investment in these companies is a key part of our international strategy, especially since Brazil is currently the world’s leading chicken exporter and third largest chicken producer behind the U.S. and China,” said Rick Greubel, group vice president and international president for Tyson, which had sales of $26.9 billion in fiscal 2007, with chicken sales representing 31 percent of the total.
Jóster Macedo, president of Macedo, has been selected to head all of the Brazilian operations to be acquired by Tyson.
Source: Tyson Foods Inc.