Tyson Foods and Saudi-based Tanmiah Food Company have entered into a strategic partnership as part of its efforts to meet growing consumer demand for protein in the Middle East and beyond.
Through the agreement, Tyson will acquire a 15% equity stake in Tanmiah’s subsidiary, Agriculture Development Company (ADC), and a 60% equity stake in its Supreme Foods Processing Company.
Tanmiah provides fresh and value-added poultry, as well as other meat products, animal feed and health products. ADC produces broiler chickens and operates hatcheries and feed mills, while also selling fresh poultry under the Tanmiah brand to retailers and food service customers.
Supreme Foods manufactures a range of cooked chicken and beef products with a distribution network across the Middle East, including Saudi Arabia, Kuwait and Bahrain. The collaboration between Tyson Foods and Tanmiah will include an investment in the expansion of Supreme Foods’ processing capabilities.
Chris Langholz, president of international for Tyson Foods, said: “This investment will enable us to access poultry supplies in Saudi Arabia to meet the growing demand for protein in the Middle East and other markets. Expansion into international markets is a key part of our strategic growth plan and we’re pleased to better serve customers in this region.”
The transaction is still subject to approval by KSA regulators.
© FoodBev Media Ltd 2022
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