Tyson Foods Explores the Sale of Three Non-Protein Businesses as Part of Corporate Strategy
April 24 2017 - 5:00PM
As part of its strategic focus on protein-packed brands, Tyson
Foods, Inc. (NYSE:TSN) is exploring the sale of three non-protein
businesses, the company reported today.
In February, Tyson Foods announced its strategy to
sustainably feed the world with the fastest growing portfolio of
protein packed brands. As the company focuses on its growth and
value creation, it is exploring the sale of its Sara Lee® Frozen
Bakery business, the Kettle business and Van’s®. Company officials
believe the sale of these businesses will allow Tyson Foods to
sharpen its focus on core businesses and expand its protein
leadership position in retail and foodservice.
“Through our ongoing strategic planning process,
we’re continuously looking at ways to maximize the effectiveness
and growth potential of our protein-based portfolio of products,”
said Tom Hayes, president and CEO of Tyson Foods. “The businesses
we’re exploring to sell include well-respected brands, operations
and product lines. With our protein-focused strategy, we believe
other companies may be better positioned to unlock their value over
time.”
Sara Lee Frozen Bakery, the Kettle business and
Van’s produce items such as frozen desserts, waffles, breakfast
bars and soups, sauces and sides. Any sale would include the Chef
Pierre®, Bistro Collection®, Kettle Creations® and Van’s® brands, a
license to use the Sara Lee® brand in various channels, as well as
the company’s Tarboro, NC, Fort Worth, TX and Traverse City, MI
prepared foods facilities. Rothschild is acting as Tyson Foods’
financial advisor on the sale.
About Tyson Foods Tyson Foods, Inc.
(NYSE:TSN), with headquarters in Springdale, Arkansas, is one of
the world’s largest food companies with leading brands such
as Tyson®, Jimmy Dean®, Hillshire Farm®, Sara
Lee®, Ball
Park®, Wright®, Aidells® and State Fair®.
It’s a recognized market leader in chicken, beef and pork as well
as prepared foods, including bacon, breakfast sausage, turkey,
lunchmeat, hot dogs, pizza crusts and toppings, tortillas and
desserts. The company supplies retail and foodservice customers
throughout the United States and approximately 115 countries. Tyson
Foods was founded in 1935 by John W. Tyson, whose family has
continued to lead the business with his son, Don Tyson, guiding the
company for many years and grandson, John H. Tyson, serving as the
current chairman of the board of directors. The company currently
has approximately 114,000 Team Members employed at more than 400
facilities and offices in the United States and around the world.
Through its Core Values, Code of Conduct and Team Member Bill of
Rights, Tyson Foods strives to operate with integrity and trust and
is committed to creating value for its shareholders, customers and
Team Members. The company also strives to be faith-friendly,
provide a safe work environment and serve as stewards of the
animals, land and environment entrusted to it.
Forward-Looking StatementsCertain information
contained in the press release may constitute forward-looking
statements, such as statements relating to anticipated business
growth. These forward-looking statements are subject to a number of
factors and uncertainties (including those described under Item 1A.
“Risk Factors” included in our Annual Report filed on Form 10-K for
the period ended October 1, 2016) which could cause our actual
results and experiences to differ materially from the anticipated
results and expectations expressed in such forward-looking
statements. We wish to caution readers not to place undue reliance
on any forward-looking statements, which speak only as of the date
made.
Media Contact:
Caroline Ahn, 312-614-6047, caroline.ahn@tyson.com
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