10 food brands you may want to get to know
Steve’s breakdown: Click AdvancePierre and you’ll see all those brands that are now owned by Tyson. It’s a BtoB food account that could be just the springboard you need to reach the chief chicken.
CINCINNATI, OH: Tyson Foods will pay $3.2 billion to add packaged sandwich maker AdvancePierre to its stable of processed food brands.
Tyson will pay $40.25 per share, a 9.8 percent premium to AdvancePierre‘s closing share price Monday.
Tyson Foods Inc. will also assume about $1.1 billion in debt from the Blue Ash, Ohio, company.
The deal is expected to close in the third quarter.
Tyson is shifting its portfolio to incorporate a heavier emphasis on proteins. On Monday, Tyson said that it might sell its Sara Lee frozen bakery business, its Kettle brand and Van’s.
Tyson, based in Springdale, Arkansas, owns the Jimmy Dean and Ball Park brands, . . .