Tyson Foods Inc. has completed its previously announced acquisition of Keystone Foods from Marfrig Global Foods. The purchase of Keystone, a supplier of chicken, beef, fish and pork to the growing global foodservice industry, aligns with Tyson Foods’ domestic and international growth strategy, the company says.
“Our biggest growth opportunities are in value-added foods and international markets. Our acquisition of Keystone helps us achieve both,” said Noel White, president and CEO of Tyson Foods. “The addition of Keystone’s team, industry expertise and international operations strengthens our capabilities. I’m pleased to welcome our newest team members to the Tyson Foods family.”
This acquisition involves eight plants and three innovation centers in China, South Korea, Malaysia, Thailand and Australia that will help meet growing international demand. Tyson Foods also is gaining an innovation center and six processing plants in the U.S. with locations in Alabama, Georgia, Kentucky, North Carolina, Pennsylvania and Wisconsin.
Keystone supplies chicken, beef, fish and pork to some of the world’s leading quick-service restaurant chains, as well as retail and convenience store channels. Its value-added product portfolio includes such items as chicken nuggets, wings and tenders; beef patties; and breaded fish fillets.
“We’ll work to make the integration of Keystone as seamless as possible while maintaining high levels of service to our customers,” White said. “An integration management office has been formed with leaders from both companies who will lead us through the process. I look forward to all we can accomplish together as one Tyson Foods.”