Tyson Foods in talks to take over Foster Farms
The deal, thought to be worth in the region of US$2bn, is currently being negotiated between the two businesses and could take at least several weeks to conclude.
According to CNBC, talks have halted after the businesses failed to agree on the price of the sale and discussions had the potential to collapse.
The move could follow Tyson Foods’ acquisition of McDonald’s meat supplier Keystone Foods at the end of 2018 for $2.16bn as part of its domestic and international growth strategy. The purchase involved Tyson Foods taking over eight plants and innovation centres across Asia and Australia to help meet global demand.
Founded in 1939, Foster Farms produces branded chicken, turkey and frozen foods at its facilities in California and Louisiana, as well as 30 family-owned farms in Washington and Oregon.
Tyson Foods told GlobalMeatNews that it did not wish to comment about the acquisition rumours, while we were unable to contact Foster Farms, due to the producer’s details no longer being available.
