QUICK LINKS: Vending Videos  | Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:      

Bookmark this site




Issue Date: Vol. 54, No. 7, July 2014, Posted On: 7/8/2014


Tyson Agrees To Purchase Hillshire After Termination Of Pinnacle Deal


Emily Jed
Emily@vendingtimes.net
TAGS: Tyson Foods, Hillshire Brands, Pilgrim's Pride, Pinnacle Food Inc., Donnie Smith, meat products, meat producers, processed meats, Jimmy Dean sausages, Ball Park hot dogs, State Fair corn dogs

SPRINGDALE, AR -- Tyson Foods Inc. has agreed to buy Hillshire Brands Co. for $7.7 billion after Hillshire terminated its merger pact with Pilgrim's Pride.

The agreement was reached days after Hillshire terminated its own $4.3 billion deal to buy Pinnacle Food Inc., announced on June 30. Springdale, AR-based Tyson, the largest U.S. meat producer, will also pay the $163 million breakup fee owed to Pinnacle for the termination of its agreement with Hillshire.

Hillshire's Jimmy Dean sausages, Ball Park hot dogs and State Fair corn dogs will expand Tyson's portfolio of prepared, processed meats.

"By investing in Hillshire Brands and its collection of leading brands, we have a unique opportunity to transform an important segment of our business, and position Tyson Foods to meet American consumers' growing demand for protein at breakfast and throughout the day," said Tyson chief executive Donnie Smith.

Tyson made its initial, unsolicited offer to acquire Hillshire on May 29, following an unsolicited bid from Pilgrim's Pride Corp. two days earlier. | READ MORE

The companies said they expect the deal to close by Sept. 27.


Topic: Foodservice News

Articles:
  • Subway Partners With Softcard To Launch Mobile Payments Nationwide
  • Technomic: Innovative Beverage Options Increasingly Drive Restaurant Visits
  • Aramark Launches Healthy Bites Sampling Program In Schools
  • Consumers Are Alone Over Half Of Eating Occasions: NPD
  • Consumer Watchdog Petitions FDA To Specify Added Sugars On Labels

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570