by Lance Turner
Posted 1/21/2014 02:34 pm
Updated 11 months ago
Yesterday, our Jan Cottingham reported on Tyson Foods Inc.'s acquisition of Bosco's Pizza Co. of Warren, Mich.
Bosco's, which is not related to the River Market restaurant, makes stuffed breadsticks and frozen pizzas. It serves the food service sector and retail customers throughout the Midwest and some retailers nationwide. Tyson says the deal is perfect for its plan to expand its prepared foods offerings.
Terms of the deal weren't disclosed, but there's no way it comes close to the value of another purchase Reuters reports that the meat processor is considering.
That'd be a $2 billion-plus acquisition of Michael Foods Group Inc., a large distributor of egg and dairy products.
Citing three "people familiar with the matter," Reuters said last week that Tyson is exploring a possible deal with Michael Foods' current owner, a private equity unit belonging to Goldman Sachs Group Inc.
Reuters says Goldman "is in the early stages of finding a buyer," and that it sources cautioned that Tyson might "ultimately choose not to move forward with an offer." Tyson, Michael and Goldman would not comment for the story.
If it turns out to be true, the deal would be among Tyson Food's biggest, but not the biggest. That honor would still belong to the company's 2001 merger with IBP Inc., which weighed in at about $3.2 billion.