Pilgrim’s Pride Acquires Tyson’s Mexican Poultry Business
Tyson Foods, Inc., Springdale, Ark., reached a definitive agreement with JBS SA, Brazil, to sell its Mexico- and Brazil-based poultry businesses.
The transaction is valued at $575 million and will be paid for in cash. Tyson Foods officials expect the sale, which is subject to regulatory approval, to be completed by the end of 2014. JBS and Pilgrim’s Pride plan to maintain all operations working to capacity with the existing workforce and all labor contracts in both countries.