December 4, 2018 — US chicken processing giant Tyson Foods has closed a deal to buy the Keystone Foods business from Marfrig Global Foods, for $2.16 billion in cash, which takes the company into fish processing in a major way.
The acquisition of Keystone, a major supplier to the growing global foodservice industry, furthers Tyson Foods’ domestic and international sales growth goals, the company said in a statement.
“Our biggest growth opportunities are in value-added foods and international markets. Our acquisition of Keystone helps us achieve both,” Noel White, Tyson’s president and CEO said. “The addition of Keystone’s team, industry expertise and international operations strengthens our capabilities. I’m pleased to welcome our newest team members to the Tyson Foods family.”
Headquartered in West Chester, Pennsylvania, Keystone supplies chicken, beef, fish and pork to quick-service restaurant chains, as well as retail and convenience store channels. Its value-added product portfolio includes chicken nuggets, wings and tenders; beef patties; and breaded fish fillets.