TYSON FOODS INVEST $4.2 BILLION IN THE READY TO EAT SANDWICH BUSINESS

In a $4.2 billion cash deal, Tyson Foods, the largest meat producer in the United States, will buy Advance Pierre Foods, a packaged sandwich supplier based in Cincinnati.

The acquisition of AdvancePierre will add a line of ready-to-eat lunch and dinner sandwiches and snacks to Tyson’s range of retail offerings, which have become central to the Arkansas meat giant’s strategy,  The Wall Street Journal reported.

AdvancePierre is a leading national producer of ready-to-eat lunch and dinner sandwiches, sandwich components and snacks through brands like Landshire and Barber Foods. Last year it registered revenues of $ 1.6 billion and employs about 4,500 workers across the country.

The total value of the transaction, which was approved by the Boards of Directors of both companies, is approximately $4.2 billion, including $3.2 billion in equity value and $1.1 billion in assumption of AdvancePierre debt.