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Article: Tyson to acquire Choctaw Maid Farms.(Business Reports)(Tyson Foods Inc.)(Brief Article)
- Article from:
- Feedstuffs
- Article date:
- August 11, 2003
- Author:
CopyrightCOPYRIGHT 2003 Miller Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tyson Foods Inc. has reported an agreement in which it will buy Choctaw Maid Farms Inc., a chicken producer with whom it has had a longtime supply partnership.
The acquisition, which will be a $74 million cash deal, is scheduled to be executed Sept. 28, coinciding with the beginning of Tyson Foods' 2004 fiscal year.
The acquisition will have no significant effect on chicken market share, with Tyson Foods, already largest producer in the U.S., increasing its market share from 22.8 to 24.4%, according to the Feedstuffs Reference Issue.
Buying Choctaw "made strategic sense" as Tyson Foods has procured all of the Choctaw production for several ...