SPRINGDALE, Ark. — Tyson Foods Inc. has reached a definitive agreement with JBS SA to sell its poultry businesses in Mexico and Brazil, the company announced July 28.
The transaction is valued at $575 million and will be paid for in cash. Tyson Foods officials currently expect the sale, which is subject to regulatory approval, to be completed by the end of 2014. JBS and Pilgrim’s Pride currently expect to maintain all the operations working to capacity with the existing workforce and to maintain all labor contracts in both countries.
“Although these are good businesses with great team members, we. . .
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