Springdale, Ark. • Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands.
The Springdale, Ark. meat processor said Monday it still plans to expand its international operations, especially in Asia, but the businesses it will sell didn't have the scale to gain leading positions in their markets. Tyson made the announcement the same day it reported fiscal third-quarter earnings that climbed more than 4 percent but missed analyst expectations.
Tyson Foods Inc. said it expects the sale of its Mexico and Brazil operations to JBS SA will be completed by the end of the year. JBS SA is the parent of JBS USA Holdings Inc., which owns Pilgrim's Pride. Tyson's Mexican business will be acquired through Pilgrim's Pride.