Tyson Foods to acquire stake in Saudi meat sector
Springdale-based Tyson did not disclose the amount of the investment, but it is within the company’s planned capital expenditure of $2 billion for this fiscal year.
SPRINGDALE, Ark. – Tyson Foods will expand its global footprint with an investment in a Saudi Arabia-based meat company. Tyson will acquire a 15% stake in Tanmiah’s subsidiary Agriculture Development Company (ADC) and a 60% stake in Supreme Foods Processing Company.
The transaction is still subject to approval by regulators in the Kingdom of Saudi Arabia. Springdale-based Tyson did not disclose the amount of the investment, but it is within the company’s planned capital expenditure of $2 billion for this fiscal year.
“This investment will allow us to access the poultry supply in Saudi Arabia to meet growing demand for protein in the Middle East and other markets,” said Chris Langholz, President of International for Tyson Foods. “Expanding into international markets is a key part of our strategic growth plan and we are excited to better serve customers in this region.
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