Tyson Foods Inc. of Springdale said Monday that it had completed the acquisition of the Thai and European businesses from BRF S.A.
The $340 million deal, announced in in February, includes four production facilities in Thailand and one each in the Netherlands and the U.K. Tyson said the businesses "build on the company's growth strategy to expand offerings of value-added protein in global markets."
"The addition of this experienced and talented team combined with these businesses strengthens our capabilities and increases our reach to new markets," CEO Noel White said in a news release. "I'm glad to welcome them to the Tyson Foods family. We're now strategically aligned to better serve customers in Europe, the Middle East, and Asia, building on our global strategy."
Tyson said that about 90% of global protein consumption growth will occur outside the U.S., with 60% of the volume growth coming from Asia over the next five years.
The four plants in Thailand produce fresh and frozen, value-added raw and fully cooked poultry products for retail and foodservice customers throughout Asia, Europe and other markets, the company said.