USA: Tyson Foods plans to sell three non-protein business
Tyson Foods, a US-based multinational food manufacturer, has announced plans to sell three non-protein business as part of its strategy to focus on protein-packed brands.
Last February, Tyson Foods announced its intention to grow its portfolio of protein packed brands and is now planning to sell its Sara Lee Frozen Bakery, Kettle and Van's businesses. These companies produce frozen desserts, breakfast bars and cereal, waffles, sauces and sides.
"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", commented 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".
Source: Tyson Foods