poultry processing plant equipment

Report: Tyson Foods Plans to Sell China Poultry Business

Aug. 17, 2023
Reuters report says the company has hired an advisor and shared preliminary information with potential buyers for the Chinese division.

Tyson Foods is planning to sell its China poultry business, according to exclusive reporting by Reuters citing three sources with knowledge of the matter. The sale process was at an early stage, but two of the sources confirmed that the company had hired Goldman Sachs as an advisor for the potential sale. The company also reportedly sent preliminary information to potential buyers, which included private-equity firms, the news report stated.

Tyson Foods and Goldman Sachs declined comment to Reuters, and the sources cited did not know what Tyson’s asking price would be but said that the business generated $1.1 billion in annual sales.

Earlier this summer, Cargill sold its China poultry business to a Beijing private-equity firm, and Tyson has been clobbered this year — most recently announcing the closure of four poultry plants after posting another significant loss in the third quarter.

About the Author

Andy Hanacek | Senior Editor

Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.

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