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.
Wakefern Food elects Capano to board of directors
KEASBEY, N.J. Wakefern Food, which runs marketing and distribution for ShopRite supermarkets, had tapped Ken Capano to serve on its board of directors, the company announced Wednesday.
Capano is the president and owner of Five Star Supermarkets, Inc., which covers two Connecticut ShopRite.
“[Capano]’s dedication to Wakefern and to the community he serves has not only been recognized by us, but also by our industry,” Joe Colalillo, chairman and chief executive officer at Wakefern Food said in a statement. “Recently, [Capano] was recognized by the Connecticut Food Association when he received their 2008 Man of the Year award. I welcome Ken to the board with great pleasure and look forward to tapping into his insight and vision as we move the cooperative forward.”
Capano has been in business with Wakefern for more than 30 years. He joined the Wakefern team as store services supervisor in 1972 and later in 1996 purchased a ShopRite store in Norwich.
Capano was also awarded the 2006 Eastern Connecticut Citizen of the Year award in 2006 by the Chamber of Commerce, reports said.
Kroger rolls out more fuel bonuses for holiday gift card shoppers
CINCINNATI In recognition of the holiday season, Kroger will double fuel discounts on gift cards purchased at its stores starting Saturday and ending Dec. 31, the supermarket operator said Thursday.
Gift cards for restaurants, stores and entertainment outlets purchased at Kroger stores will accumulate fuel discounts at double their purchased value, earning 10 cents off for every $50 in gift cards. Customers at Kroger pharmacies will also earn fuel discounts on eligible prescriptions, earning 10 cents off per gallon of gasoline for every two prescriptions filled at a Kroger pharmacy.
The company is offering the program at several of its banners nationwide, including Kroger, Baker’s, City Market, Dillons, Fry’s, Gerbes, Hilander, Jay C, King Soopers, Owen?s, Pay Less, QFC and Scott?s.