SÃO PAULO – According to a report in Reuters, Tyson Foods Inc. finalized the acquisition of chicken processor Keystone Foods, which is a subsidiary of Brazil’s Marfrig Global Foods.
The report stated that Marfrig sold its partner meat company for $2.5 billion. Tyson Foods declined to comment to MEAT+POULTRY about the report.
According to Keystone Foods’ website, the company produces approximately 2 billion lbs. of poultry, 300 million lbs. of beef and 12 million lbs. of pork each year.
Keystone Foods operates 25 manufacturing facilities in the United States, China, South Korea, Thailand, Malaysia and Australia.
Marfrig purchased Keystone Foods in June 2010.
In August of 2017, Marfrig planned an initial public offering of Keystone Foods, but it did not occur.
In April, Marfrig agreed to acquire 51 percent of Kansas City, Missouri-based National Beef Packing Co. The company paid $969 million for an equity interest in National Beef, which reported sales of $7.3 billion in 2017, making it the fourth-largest beef processor in the world.
Keystone Foods is a longtime supplier of burger patties, poultry and fish to McDonald’s Corp.