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3 poultry firms in Brazil bought by Tyson Foods.

Tyson Foods Inc. of Springdale said last week that it has bought three poultry companies in Brazil.

Tyson officials confirmed in a news release that the company is purchasing Macedo industrial and Avicola Itaiopolis, both in the Brazilian state of Santa Catarina, and will initially have 70 percent ownership of Frangobras in the state of Parana.

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Terms of the deal were not disclosed. Tyson says it expects the deals to close within 60 days. Macedo is a strong retail chicken brand insouthern Brazil.

The company also exports chicken to a variety of countries including the United Kingdom, Belgium, Spain, Hong Kong, Japan, South Africa and Yemen. Tyson plans to expand production, more than doubling the plant's capacity to 176,000 birds per day.

Avita and Frangobras are new poultry companies with tremendous growth potential, Tyson said. Both are recently built, strategically located plants that contain modern processing technology.

Tyson's investment in Avita and Frangobras will enable each processing facility to increase daily chicken production to 320,000 birds.

The company's debt got an upgrade on Sept. 12 from one agency a week after Standard & Poor's downgraded its credit rating to junk status on Sept. 4.
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Title Annotation:AGRICULTURAL BUSINESS
Author:Jensen, Andrew
Publication:Arkansas Business
Date:Sep 22, 2008
Words:197
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