USA: Tyson Foods acquired AdvancePierre for $4.2 billion

USA: Tyson Foods acquired AdvancePierre for $4.2 billion

US meat processor Tyson Foods has concluded the acquisition of AdvancePierre for an approximated transaction of $4.2 billion.

With a workforce of 4,500 employees, AdvancePierre makes snacks, ready-to-eat sandwich, generating a revenue of $1,6 billion in 2016.

According to Tom Hayes, president and chief executive officer of Tyson Foods, the merge of Tyson and AdvencePierre Foods is expected to generate synergies of about $200 million during the next three years. The acquisition is expected to strengthen Tyson Foods’ position in the market for prepared foods.

"AdvancePierre is a natural, strategic fit that will extend our capabilities in new and growing food categories," commented Mr. Hayes. "We expect the acquisition to immediately contribute to earnings and are also confident it will result in cost synergy benefits of $200 million within three years".

Source: Food Business News