Tyson Foods Reportedly Explores Sale of China Business
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Tyson Foods Inc., the biggest U.S. meat company, is exploring options including a potential sale of its China business, according to people with knowledge of the matter.
The process is at an early stage and some private equity firms have expressed initial interest in the business, the people said, who asked not to be identified as the information is private.
Deliberations are ongoing and Tyson could still decide to keep the asset, the people said. Reuters reported earlier that the meat giant was planning to sell its poultry business and has hired Goldman Sachs Group Inc. to advise.
Tyson established its first factory in China in 2001, and has operations that span breeding, slaughtering, processing and distribution for chicken, cattle and pigs, according to its website. The decision to possibly exit the Asian nation would follow Cargill Inc., which agreed to sell its poultry operations in the country earlier this year to private equity firm DCP Capital.
A Tyson spokesperson didn’t immediately return an email seeking comment outside of regular U.S. business hours.
Tyson last week reported its second-quarter results.
Tyson Foods ranks No. 9 on the Transport Topics Top 100 list of the largest private carriers in North America, and No. 1 on the top agriculture and food processing carriers list.
— With assistance from Megan Durisin.
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