SPRINGDALE, Ark., April 24, 2017 (GLOBE NEWSWIRE) -- As part of its strategic focus on protein-packed brands, Tyson Foods, Inc. (NYSE:TSN) is exploring the sale of three non-protein businesses, the company reported today.
In February, Tyson Foods announced its strategy to sustainably feed the world with the fastest growing portfolio of protein packed brands. As the company focuses on its growth and value creation, it is exploring the sale of its Sara Lee® Frozen Bakery business, the Kettle business and Van’s®. Company officials believe the sale of these businesses will allow Tyson Foods to sharpen its focus on core businesses and expand its protein leadership position in retail and foodservice.
“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,” said 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.”
Sara Lee Frozen Bakery, the Kettle business and Van’s produce items such as frozen desserts, waffles, breakfast bars and soups, sauces and sides. Any sale would include the Chef Pierre®, Bistro Collection®, Kettle Creations® and Van’s® brands, a license to use the Sara Lee® brand in various channels, as well as the company’s Tarboro, NC, Fort Worth, TX and Traverse City, MI prepared foods facilities. Rothschild is acting as Tyson Foods’ financial advisor on the sale.
About Tyson Foods
Tyson Foods, Inc. (NYSE:TSN), with headquarters in Springdale, Arkansas, is one of the world’s largest food companies with leading brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Sara Lee®, Ball Park®, Wright®, Aidells® and State Fair®. It’s a recognized market leader in chicken, beef and pork as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. The company supplies retail and foodservice customers throughout the United States and approximately 115 countries. Tyson Foods 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. The company currently has approximately 114,000 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.
Certain information contained in the press release may constitute forward-looking statements, such as statements relating to anticipated business growth. These forward-looking statements are subject to a number of factors and uncertainties (including those described under Item 1A. “Risk Factors” included in our Annual Report filed on Form 10-K for the period ended October 1, 2016) which could cause our actual results and experiences to differ materially from the anticipated results and expectations expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.
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Source:Tyson Foods Inc