Tyson Foods has agreed to acquire a 49% stake in the poultry segment of Malaysian food manufacturer, Malayan Flour Mills Berhad (MFM).
A new partnership will see Tyson invest in the company’s vertically integrated poultry business, which includes feed mills, hatcheries, farms and processing facilities, with the aim of increasing supply flexibility for both companies.
Tyson Foods Malaysia currently operates one plant and one innovation centre.
“Once completed, the poultry deal will optimise our existing Malaysia business and expand MFM’s poultry business,” said Chris Langholz, international president of Tyson Foods.
“This partnership will add more supply flexibility for both companies in serving halal-certified poultry to consumers and customers in the country and across priority export markets.”
Teh Wee Chye, managing director for MFM, added: “Malaysia is one of the key poultry markets in Southeast Asia, with a high per capita consumption of poultry.
“Together with Tyson Foods, we look forward to increasing our halal poultry product offerings in the country, especially in the further processed poultry segment, as well as exporting to demand markets with the help of Tyson Foods’ global network.”
The transaction is subject to the approval of MFM’s shareholders, among others.
© FoodBev Media Ltd 2020
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