Tyson Foods acquires Original Philly Holdings
Based in Philadelphia, the family-run business, Original Philly Holdings, makes raw and cooked sandwich fillings for use in a style of roll called a cheesesteak – a long bread roll filled with thin beefsteak slices and melted cheese.
The acquisition will add extra muscle to Tyson Foods’ strong range of value-added meat products, which saw 3% volume growth in Q4, according to trading figures posted by the company this week.
Operating out of two factories in the state of Pennsylvania, US, Original Philly Holdings employs more than 250 people and sells beef and chicken products to foodservice, retail and convenience store operators.
Tyson Foods Prepared Foods Group president Sally Grimes called the newly-acquired business a “natural, strategic fit” for the business.
“The Original Philly brand and portfolio of products are highly regarded in the foodservice industry and have a growing list of customer relationships with chain and convenience store operators,” said Grimes.
“We look forward to combining our commercial and operational resources with Original Philly Holdings’ capabilities to offer new solutions to customers and consumers, expand distribution, and continue the growth and legacy of the business.”
John Karamatsoukas, CEO of Original Philly Holdings, added: “We’re excited to be part of the Tyson Foods family, which will allow us to build on the legacy of our business.
“Tyson Foods is a leader in the food industry and has a strong reputation for successfully acquiring and growing family-owned businesses like ours. With deep appreciation for our customers, employees, and vendors’ contributions to Original Philly’s success, I remain confident that Tyson Foods will honour and operate the business in a manner consistent with the values we embrace.”
