After February’s announcement of its new look and new corporate strategy, Tyson Foods has reported today that it may consider the sale of three non-protein businesses.
“Through our ongoing strategic planning process, we’re continuously looking at ways to maximize the effectiveness and growth potential of our protein-based portfolio of products,” said Tom Hayes, President and CEO, according to a company release. “The businesses we’re exploring to sell include well-respected brands, operations, and product lines. With our protein-focused strategy, we believe other companies may be better positioned to unlock their value over time.”
As we previously reported, Tyson Foods announced its strategy to sustainably feed the world with the fastest growing portfolio of protein packed brands. As the company focuses on its growth and value creation, it is exploring the sale of three of its non-protein businesses:
Company officials believe the sale of these businesses will allow Tyson Foods to sharpen its focus on core businesses and expand its protein leadership position in retail and foodservice.
Sara Lee Frozen Bakery, the Kettle business and Van’s produce items such as frozen desserts, waffles, breakfast bars and soups, sauces, and sides. Any sale would include the Chef Pierre®, Bistro Collection®, Kettle Collection™ and Van’s® brands, a license to use the Sara Lee® brand in various channels, as well as the company’s Tarboro, NC, Fort Worth, TX, and Traverse City, MI, prepared foods facilities. Rothschild is acting as Tyson Foods’ financial advisor on the sale.
Will the food giant release these three respected brands? Stay tuned with Deli Market News as we find out.