Tyson Foods Signs Agreement to Acquire Williams Sausage Company
February 21 2023 - 2:38PM
Tyson Foods, Inc. (NYSE: TSN) has signed an agreement to acquire
Williams Sausage Company, Inc. of Union City, Tenn., both companies
announced today.
Williams Sausage Company employs approximately 500
team members and provides fresh and fully cooked sausage, bacon and
sandwiches to retail and foodservice customers.
“The addition of Williams Sausage Company aligns
with our strategic intent of expanding our capacity to serve our
customers,” said Stewart Glendinning, Group President, Prepared
Foods for Tyson Foods. “We also look forward to welcoming Williams’
dedicated team members to the Tyson Foods family.”
“The Williams Family has been very blessed for the
last 65 years by dedicated team members, great customers and
fantastic suppliers that have allowed us to build a quality food
company,” said Williams Sausage Company President and CEO Roger
Williams. “There are not many companies to which we could entrust
what we have built, and we are very pleased that in Tyson Foods we
have found that partner who understands the heritage and culture of
our family business and will be able to take it to the next level.
We believe this to be a very positive move for our family and our
team members that will ensure the future of all stakeholders.”
Terms of the acquisition were not disclosed, and
the transaction is still subject to approval by U.S.
regulators.
Forward-Looking Statements
Certain information in this press release
constitutes forward-looking statements as contemplated by the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements relating to the
company’s expectations regarding the benefits of completion of the
transaction. We caution readers not to place undue reliance on any
forward-looking statements, which speak only as of the date made.
These forward-looking statements are subject to a number of factors
and uncertainties that could cause our actual results to differ
materially from those expressed in or contemplated by the
forward-looking statements, including the effect of global economic
conditions, the timing of regulatory approvals and the ability of
the parties to consummate the transaction. Other important
factors are discussed in detail in the company’s filings with the
Securities and Exchange Commission, including in Part I, Item 1A.
“Risk Factors” included in our Annual Report on Form 10-K for the
fiscal year ended October 1, 2022. We undertake no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
About Tyson Foods
Tyson 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 four 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®. Headquartered in
Springdale, Arkansas, the Company had approximately 142,000 team
members on October 1, 2022. 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.
Visit www.tysonfoods.com.
Media contact: Ragan Dickens, 479-290-2171
Category: IR
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