US meat processing company Tyson Foods acquires Original Philly
Food acquisition news : US meat processing company Tyson Foods has acquired Philadelphia food company Original Philly Holdings which manufactures raw and fully-cooked sandwich steak and cheesesteak appetizer products.
Financial terms of Tyson Foods acquisition of Original Philly haven’t been disclosed.
Original Philly Holdings consists of two business units: Original Philly Cheesesteak Company, which manufactures raw Philly Style sandwich steak products, and Philadelphia Pre-Cooked Steak Company, which manufactures fully-cooked Philly-style sandwich steak products.
Original Philly is made up of two business units – Original Philly Cheesesteak Company and Philadelphia Pre-Cooked Steak Company. Original Philly Cheesesteak makes raw Philly Style sandwich steak products while Philadelphia Pre-Cooked Steak makes fully-cooked Philly-style sandwich steak products.
Original Philly’s products are sold to retail, foodservice and convenience stores. The Philadelphia food company has a couple of food processing plants in the city and has a workforce of around 250.
Commenting on Tyson Foods acquisition of Original Philly, Sally Grimes who is Tyson Foods Prepared Foods Group President, said: “Original Philly Holdings is a natural, strategic fit with our Prepared Foods Business.
“The Original Philly brand and portfolio of products are highly regarded in the foodservice industry and have a growing list of customer relationships with chain and convenience store operators.”
Grimes added: “We look forward to combining our commercial and operational resources with Original Philly Holdings’ capabilities to offer new solutions to customers and consumers, expand distribution, and continue the growth and legacy of the business.”
According to Tyson Foods, integration teams from both the companies have been created and that the company will stay focused on sustaining high quality customer service throughout the transition period.
John Karamatsoukas, the president and CEO of Original Philly, commenting on Tyson Foods acquisition of Original Philly, said: “We’re excited to be part of the Tyson Foods family, which will allow us to build on the legacy of our business.
“Tyson Foods is a leader in the food industry and has a strong reputation for successfully acquiring and growing family-owned businesses like ours. With deep appreciation for our customers, employees, and vendors’ contributions to Original Philly’s success, I remain confident that Tyson Foods will honor and operate the business in a manner consistent with the values we embrace.”
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