NEW YORK, May 12, 2015 (GLOBE NEWSWIRE) -- Executives from Tyson Foods, Inc. (NYSE:TSN) told investors at the Goldman Sachs Consumer Staples Conference that the company is transforming from a protein processor with one brand to a protein-centric consumer packaged goods company with a house of brands.
Donnie King, president of North American operations and food service, and Dennis Leatherby, executive vice president and chief financial officer, talked about Tyson Foods' "advantaged brands in advantaged categories."
"We're demonstrating more stability and less volatility, and we have a growth story," King said. "We have the #1 or #2 brands in 13 core categories. Our products are growing 1.6 times faster than the total retail food and beverage category. Ninety-two percent of our frozen product sales and 99 percent of our refrigerated product sales are in categories that are growing, and we were #2 in retail dollar sales growth for the last 52-week period (according to IRI data)."
Leatherby said the company has raised its targets for prepared foods profit improvement initiatives and synergies from The Hillshire Brands Co. acquisition to more than $250 million for the current fiscal year, $400 million in fiscal 2016 and $600 million in fiscal 2017.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), with headquarters in Springdale, Arkansas, is one of the world's largest producers of chicken, beef, pork and prepared foods that include leading brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Sara Lee® frozen bakery, Ball Park®, Wright®, Aidells® and State Fair®. The company was founded in 1935 by John W. Tyson, whose family has continued to lead the business with his son, Don Tyson, guiding the company for many years and grandson, John H. Tyson, serving as the current chairman of the board of directors. Tyson Foods provides a wide variety of protein-based and prepared foods products and is the recognized market leader in the retail and foodservice markets it serves, supplying customers throughout the United States and approximately 130 countries. It has approximately 124,000 Team Members employed at more than 400 facilities and offices in the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of Rights, Tyson Foods strives to operate with integrity and trust and is committed to creating value for its shareholders, customers and Team Members. The company also strives to be faith-friendly, provide a safe work environment and serve as stewards of the animals, land and environment entrusted to it.
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Forward Looking Statements
This release includes forward-looking statements as well as historical information. These forward-looking statements are made as of the date of the release and include statements relating to anticipated category growth and synergy capture. Actual results may vary. Factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: certain categories in which our products are sold do not continue to grow or the sales of our products fall below our expectations; and the risk that revenue opportunities, cost savings, synergies and other anticipated benefits from the merger may not be fully realized or may take longer to realize than expected. Additional information regarding these and other risks is included in Item 1.A. "Risk Factors" on our Form 10-K for the period ended September 27, 2014. Tyson Foods does not assume any obligation to update the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law.
CONTACT: Media Contact: Gary Mickelson, 479-290-6111 Investor Contact: Jon Kathol, 479-290-4235
Source:Tyson Foods, Inc.