Tyson Foods explores sale of non-protein businesses as part of corporate strategy
As part of its strategic focus on protein-packed brands, Tyson Foods, Inc. is exploring the sale of three non-protein businesses, the company reported.
In February, 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 its Sara Lee Frozen Bakery business, the Kettle business and Van’s. 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.
“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 of Tyson Foods. “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.”
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 Creations 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.