Tyson meat company plans global expansion
SPRINGDALE, Ark. Tyson Foods could be looking at international expansion reports said this week. The news comes after statements made to the Associated Press by company head Don Tyson indicated that he and his company were looking into growing into global markets.
“Our company, as I would view it today, is in kind of a consolidation stage, getting ready for our growth overseas,” Tyson told The Associated Press.
Since the 1970s, Tyson has survived stock highs and lows, but now faces U.S. market challenges such as high grain prices for feed, over-production of chicken, export bans on U.S. beef due to mad cow disease outbreaks.
For that reason, Tyson explained, his company is considering pursuits in more international markets. Tyson has already acquired two poultry companies, Avicola Itaiopolis and Macedo Agroindustrial, and majority ownership in a third, Frangobras, in Brazil. Additionally, the company announced joint ventures in China earlier this year including a majority share purchase of 60 percent of the Shandong Xinchang Group chicken company, majority interests in chicken processing plants in Zhucheng and Shandong, and in another under development in Haimen City, reports said.
The company also bought up 51 percent of Godrej Foods, in India.
Tyson Foods brings in about $27 billion a year in revenue, reports said.
Pepsi to buy Canadian snack maker Spitz
NEW YORK In an effort to further expand into the healthy snack category, PepsiCo announced Wednesday it will be buying Canadian sunflower seed maker Spitz International Co.
Spitz would be included in PepsiCo’s Frito-Lay North America business unit and joins True North nut snacks and baked Lay’s potato chips in Pepsi?s handful of healthy food products. Spitz will continue operating in Canada?s Bow Island and Medicine Hat, Alberta.
Pepsi sales, especially beverage, have taken a hit as consumers reevaluate their purchasing options in the tightening economy. “Spitz enables Frito-lay Canada to grow our seed business in Canada and help us expand in the United States, while supporting PepsiCo’s broader health and wellness strategy,”Al Carey, president and chief executive of Frito-Lay North America said. The terms of acquisition were not disclosed.
Hershey names Idrovo senior vice president, strategy, business development
HERSHEY, Pa. Hershey announced Wednesday that Javier Idrovo, former president of Dole Packaged Foods, will be joining the chocolate company as senior vice president of strategy and business development, effective Nov. 3.
Idrovo’s responsibilities include leading Hershey’s strategic plan, overseeing and directing its merger and acquisition activities, developing a decision-making strategy for financial and operational issues and finding new locations in which to expand.
“Over the past year, we have developed and launched a very strong strategic plan,” said David West, president and chief executive officer. “[Idrovo]’s extensive background both in leading a global consumer business and as a management consultant will be of immense value as we implement our plan across the organization. Javier will ensure that we have the proper resources and alignment to successfully implement our strategy and rive long-term growth.”
Idrovo spent much of his career at Dole Packaged Foods, serving as senior vice president of strategy; vice president and chief financial officer and later rising to president. Prior to this experience, he was employed at The Boston Consulting Group, where he analyzed and led business strategies.