Tyson Foods announces sale of Georgia poultry complex to House of Raeford Farms
Tyson Foods, Inc. (NYSE: TSN), a leading global protein provider, has agreed to sell its poultry processing complex in Vienna, Georgia, to House of Raeford Farms. The deal, announced today, is part of Tyson’s strategic initiative to optimize its production network.
Tyson Foods’ sale of the Vienna complex is a strategic move designed to streamline operations while continuing to meet customer demands from other facilities. House of Raeford Farms, a well-established poultry processor, plans to maintain operations at the site, utilizing the current workforce and grower network. This continuity is expected to sustain local employment and economic activities in the area.
The transaction is pending customary closing conditions, including regulatory approval from U.S. authorities. The financial terms of the deal have not been disclosed. However, this acquisition by House of Raeford Farms is poised to enhance their production capabilities and reinforce their market position in the poultry industry.
Tyson Foods, Inc. to sell its Vienna, Georgia poultry complex to House of Raeford Farms, aiming to optimize its network while ensuring continued local employment.
Founded in 1935 by John W. Tyson and operated under four generations of family leadership, Tyson Foods, Inc. has established itself as a powerhouse in the food industry. With a diverse portfolio that includes well-known brands like Jimmy Dean, Hillshire Farm, and Ball Park, Tyson is committed to providing high-quality, sustainable, and affordable food globally. The company, headquartered in Springdale, Arkansas, employs approximately 139,000 team members worldwide.
In its recent financial disclosures, Tyson Foods reported a slight decline in sales, with second-quarter 2024 revenues totaling $13,072 million, down 0.5% from the previous year. For the first six months of fiscal 2024, sales stood at $26,391 million, remaining stable year-over-year. The company anticipates capital expenditures between $1.2 billion and $1.4 billion for fiscal 2024, focusing on profit improvement and innovation in automation and technology.
This strategic divestiture by Tyson Foods reflects a broader trend in the food sector where companies are reshaping their asset base to focus on core competencies and improve operational efficiencies. The decision by House of Raeford Farms to maintain operations at the Vienna complex is a positive step for the local community, ensuring job security and continued economic contributions.
