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Tyson Foods Inc. of Springdale said Monday that it is exploring the possible sale of three non-protein businesses: Sara Lee Frozen Bakery, Kettle and Van’s.
The publicly traded meat processor (NYSE: TSN) said the move comes as part of “its strategic focus on protein-packed brands.”
It said company leaders believe the sale of the businesses will allow the company “to sharpen its focus on core businesses and expand its protein leadership position in retail and foodservice.”
“Through our ongoing strategic planning process, we’re continuously looking at ways to maximize the effectiveness and growth potential of our protein-based portfolio of products,” CEO Tom Hayes said in a news release. “The businesses we’re exploring to sell include well-respected brands, operations and product lines. With our protein-focused strategy, we believe other companies may be better positioned to unlock their value over time.”
All three brands produce items such as frozen desserts, waffles, breakfast bars and soups, sauces and sides. Tyson said any sale would include the Chef Pierre, Bistro Collection, Kettle Creations and Van’s brands, a license to use the Sara Lee brand in various channels, as well as prepared foods facilities in Tarboro, North Carolina; Fort Worth, Texas; and Traverse City, Michigan.
Tyson said Rothschild is acting as its financial advisor on the sale.
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