Tyson Buys Majority Stake in India Chicken Company
Meat producer Tyson Foods Inc. buys majority ownership (51 percent) of Godrej Foods Ltd., a poultry processing business based in Mumbai, India. Godrej Foods is a subsidiary of agribusiness company Godrej Agrovet Ltd. and makes products under the "Real Good Chicken" brand name. The company also has a line of frozen vegetables under the Yummiez brand. The financial terms of the deal were not disclosed.
The joint venture will be called Godrej Tyson Foods. The company expects annual sales to be in the range of $50 million and will likely grow as operations expand. It includes one chicken processing plant in Mumbai and one in Bangalore, and the two plants have a combined capacity of 60,000 birds per day and have about 1,000 contract production workers. Tyson says efforts to build more processing plants will begin in the next few years.
The joint venture will be called Godrej Tyson Foods. The company expects annual sales to be in the range of $50 million and will likely grow as operations expand. It includes one chicken processing plant in Mumbai and one in Bangalore, and the two plants have a combined capacity of 60,000 birds per day and have about 1,000 contract production workers. Tyson says efforts to build more processing plants will begin in the next few years.