Meat + Poultry - June 2017 - 13

Secretary of Agriculture Sonny
Perdue announced May 4 that the
first shipments of fresh US beef in 13

S

E

FIRST SHIPMENTS OF US
BEEF ARRIVE IN BRAZIL

"With Brazil's large
market reopened to the
United States, US beef
exports are poised for
new growth."

-

Tyson Foods Inc. has entered into an
agreement to acquire AdvancePierre
Foods Holdings Inc., Cincinnati, in a
transaction valued at approximately
$4.3 billion. AdvancePierre is
a manufacturer of ready-to-eat
sandwiches, entrees and snacks.
Tyson Foods also said it has
begun the process of divesting
its Sara Lee frozen bakery, Kettle
and Van's businesses. The three
businesses manufacture items
such as frozen desserts, waffles,
breakfast bars and soups, sauces
and sides. Any sale would include
the Chef Pierre, Bistro Collection,
Kettle Collection and Van's brands,
a license to use the Sara Lee brand
in various channels, as well as the
company's Tarboro, North Carolina,
Fort Worth, Texas, and Traverse City,
Michigan, prepared foods facilities,
according to the company.
The AdvancePierre transaction
involves an offer of $40.25 per share in
cash to the holders of AdvancePierre
Foods stock. The offer price
represents a 31.8 percent premium to
AdvancePierre's closing price on April
5, 2017, Tyson said in a statement. 
The total value of the deal
includes $3.2 billion in equity value
and the assumption of $1.1 billion in
AdvancePierre Foods debt. The boards
of directors for both companies have
approved the transaction.
"This transaction will provide
an attractive current premium to
AdvancePierre shareholders as well as
significant ongoing benefits to Tyson
shareholders and the customers and
team members of both companies,"
said Tom Hayes, president and CEO of
Tyson Foods.

years have arrived in Brazil, creating
promising long-term opportunities
for American producers in the
Brazilian market.
"With Brazil's large market
reopened to the United States, US beef
exports are poised for new growth. I
look forward to Brazilians getting the
opportunity to eat delicious American
beef, because once they taste it, they'll
want more of it," Secretary Perdue said
in a statement.
São Paulo, Brazil-based JBS
SA received its first lot containing
12 tons of US beef. The company
opened the container at a
distribution center in São Paulo.
Initially, JBS expects to supply
around 150 tons of beef each month.

TA

1

TYSON TO ACQUIRE
ADVANCEPIERRE FOODS

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- SONNY PERDUE

In 2003, Brazil closed its market
to fresh US beef with concerns over
bovine spongiform encephalopathy
(BSE). The US Dept. of Agriculture's
(USDA) Foreign Agricultural Service
(FAS) and Animal and Plant Health
Inspection Service (APHIS) have
worked continuously with Brazilian
officials to regain market access for the
last 13 years.
Also, FSIS has provided
information and documentation
on the United States' food safety
requirements and standards for
beef. Brazil officially reopened
the market on Aug. 1, 2016, after
numerous technical discussions and
meetings, and based on the United
States' classification by the World
Organization for Animal Health (OIE)
as a negligible risk country for BSE.

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Meat + Poultry - June 2017

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