Tyson Foods acquires Keystone Foods for $2.16 billion

The largest US meat producer Tyson Foods has finalised the acquisition of Keystone Foods from Brazilian group Marfrig Global Foods for $2.16 billion in cash.

The operation will give the US giant access to Keystone’s sales and distribution network in the fast-growing Asia-Pacific region while boosting exports towards Europe, the Middle East and Africa. Keystone, headquartered in West Chester, Pennsylvania, employs approximately 11,000 people and generated revenue of $2.5 billion in the 12 months ending 30 June 2018.

It supplies chicken, beef, fish and pork to some of the world’s leading quick-service restaurant chains, including McDonald’s, as well as retail and convenience store channels.

The acquisition includes six processing plants and an innovation centre in the US as well as eight plants and three innovation centres in China, South Korea, Malaysia, Thailand and Australia.