RIYADH, SAUDI ARABIA — Tyson Foods Inc. announced on July 6 that it purchased a stake in Saudi-based Tanmiah Food Co. in order to expand its global protein footprint.
Tanmiah is a fresh and value-added poultry provider along with other meat products, animal feed, health products and foods brand franchise operator.
As part of the agreement, Tyson said it acquired a 15% stake in Tanmiah’s subsidiary Agriculture Development Company (ADC) and a 60% stake in Supreme Foods Processing Co. Regulators for the Kingdom of Saudi Arabia are still working to approve the transaction.
“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,” said Chris Langholz, president of International for Tyson Foods. “Expansion into international markets is a key part of our strategic growth plan and we’re pleased to better serve customers in this…