Tyson Buys 3 Grain Elevators in Tennessee

by Arkansas Business Staff  on Wednesday, Feb. 14, 2018 3:29 pm   1 min read

Tyson Foods Inc. of Springdale announced Wednesday that its subsidiary has signed a definitive agreement to purchase three commercial grain elevators from the Grain Group of The Andersons Inc.

The elevators are located in Dyer, Humboldt and Kenton, Tennessee and will support the company's existing operations in Union City, Tennessee as well as its planned chicken complex in Humboldt.

The transaction is expected to close in March, and terms of the agreement are not being disclosed. 

Tyson expects to add 20 Andersons employees to its team, and does not expect any disruption to existing contracts with area farmers.

“This project will help secure vital inputs for us, and position us to grow and support our customers,” Doug Ramsey, group president of poultry for Tyson Foods, said in a news release. “We look forward to creating more direct relationships with the grain producers in the area.”

Tyson has developed a program called Local Grain Services to build relationships with and resources, such as a mobile app and website, for farmers who provide grain to feed chickens grown for it.

The company also said buying corn, wheat and soybeans directly from local farmers promotes local economies and is part of its strategy to sustainably feed the world with the fastest growing portfolio of protein-packed brands.

 

 

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