Tyson Foods unveils new innovations as part of its continued evolution into a modern food company
February 20 2018 - 4:15PM
Tyson Foods, Inc. (NYSE:TSN) President and Chief Executive Officer
Tom Hayes said today that Tyson Foods is well-positioned to meet
the growing demand for protein. Speaking at the 2018 Consumer
Analyst Group of New York conference, Hayes and members of Tyson
Foods’ enterprise leadership team shared with investors that the
company is delivering on its strategy and driving growth across the
company’s portfolio of protein – from its Chicken, Beef and Pork
segments to Prepared Foods.
“Tyson Foods is transforming from a company with a strong
heritage in chicken to a modern food company that is challenging
the industry status quo,” Hayes said. “Consumers expect more from
food companies today, and we’re up for the challenge. We’re
combining our size and scale with agility to make food people want
to eat. That’s driving our business and helping us deliver top-tier
returns for shareholders.”
Strong operating cash flows, a prudent capital allocation
strategy and the financial flexibility to make strategic
acquisitions position Tyson Foods to achieve long-term profitable
growth. Notably, the company’s Prepared Foods segment has seen
significant growth, with operating margins more than tripling over
the last four years.
To continue growing Prepared Foods and driving growth across the
entire business, Tyson Foods shared the bold actions it’s taking in
three key areas:
Modernizing its $1 billion brandsTyson Foods is innovating and
brand building to keep its multiple billion-dollar brands that are
already customer favorites contemporary and relevant.
- Jimmy Dean: Launching Egg’wiches in May, a new line of frozen
breakfast sandwiches without the bread, plus new egg white
scrambles to build on the success of Jimmy Dean Simple Scrambles®
Breakfast Cups, which were the best performing new single-serve
breakfast item at retail last year.
- Hillshire Farm: Launching a line of premium carved all-natural
meats for snacking, salads and wraps in the lunchmeat section this
spring, along with a new master brand campaign built around the
idea that when you enjoy food that’s crafted with care, you’re
closer to the farm than you think.
- Tyson: Launching a new consumer brand identity that is simple
and modern, yet still easily recognizable to consumers and grounded
in the heritage of the company’s flagship brand.
Creating tomorrow’s iconic brands and businessesTyson Foods is
employing a start-up mindset and moving faster than ever on new
products and partnerships.
- The company announced an exclusive partnership with Tajin – one
of Mexico’s most authentic and recognized spice brands. Tyson Foods
will leverage its protein know-how, culinary capability and brand
building expertise with Tajin through a portfolio of new products
including Tajin spiced meatballs, smoked sausage with mango and
boneless chicken bites.
Changing the game with new growth modelsTyson Foods is moving
beyond traditional categories and challenging conventional ways of
thinking and working in the consumer packaged goods space.
- This year, the company is launching a new brand called Green
Street, in-line with consumer demand for ready-to-eat meals. Its
first foray will be protein-rich grab-and-go bowls that are 100%
plant-based.
- Tyson Foods is making strategic investments through Tyson
Ventures, backing talented entrepreneurs who are pioneering
breakthroughs in food and food-focused technologies. Its initial
investments included Beyond Meat, Memphis Meats and
Tovala.
- The company launched its Tyson Innovation Lab, which is about
exploring new approaches to accelerate the pace of innovation. The
lab brings together a lean team of designers, chefs, scientists and
supply chain experts in a dedicated space at the company’s Chicago
office and gives them six months to go from an idea to an in-market
solution. For the first product launch, they are finding
opportunity in wasted food. Utilizing what goes unused in the food
supply chain as ingredients, they are developing a line of protein
snacks branded “YAPPAH”.
For an audio replay of the presentation, visit Tyson’s Investor
Relations website.
About Tyson FoodsTyson Foods Inc. (NYSE:TSN) is
one of the world’s largest food companies and a recognized leader
in protein. Founded in 1935 by John W. Tyson and grown under three
generations of family leadership, the company has a broad portfolio
of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®,
Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods
innovates continually to make protein more sustainable, tailor food
for everywhere it’s available and raise the world’s expectations
for how much good food can do. Headquartered in Springdale,
Arkansas, the company had 122,000 team members at September 30,
2017. Through its Core Values, Tyson Foods strives to operate with
integrity, create value for its shareholders, customers,
communities and team members and serve as a steward of the animals,
land and environment entrusted to it.
To download the free Tyson IR App, which offers access to SEC
filings, news releases, transcripts, webcasts and presentations,
please visit the App Store for iPhone and iPad or Google Play for
Android mobile devices.
Forward-Looking Statements Certain information
contained in this press release may constitute forward-looking
statements, such as statements relating to expected performance,
new products, product innovation, and sustainability. These
forward-looking statements are subject to a number of factors and
uncertainties which could cause our actual results and experiences
to differ materially from the anticipated results and expectations
expressed in such forward-looking statements. We caution
readers not to place undue reliance on any forward-looking
statements. These statements speak only as of the date made,
and we do not intend nor do we undertake any obligation to update
these statements.
Media Contact: Gary Mickelson, 479-290-6111Investor Contact: Jon
Kathol, 479-290-4235
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