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Tyson Foods To Buy Thai And European Operations From BRF S.A. For $340 Mln

Tyson Foods, Inc. (TSN) announced Thursday a definitive agreement to acquire the Thai and European operations of BRF S.A. for $340 million.

Additional terms of the deal are not being disclosed. The transaction is expected to close before the end of the company's fiscal third quarter. It is subject to customary closing conditions, including regulatory approvals.

The purchase includes four processing facilities in Thailand, one processing facility in the Netherlands and one processing facility in the United Kingdom.

The acquisition supports Tyson Foods' international growth strategies to expand offerings of value-added protein in global markets.

The vertically integrated poultry operations in Thailand include a feed mill, hatchery, breeder farms and contract growing operations supplying live birds for the four poultry processing facilities.

The processing locations in the Netherlands and the United Kingdom are supported by in-house innovation capabilities for developing further-processed chicken products for retail and foodservice customers throughout Europe.

Products are sold under Grabits, Hot 'N' Kickin'Chicken, Speedy Pollo and the Sadia brands, in addition to key customer-owned brands.

BofA Merrill Lynch is acting as exclusive financial adviser to Tyson Foods on the acquisition.

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