SPRINGDALE, Ark. — Tyson Foods will expand its global footprint with an investment in a Saudi Arabia-based meat company. Tyson will acquire a 15% equity stake in Tanmiah subsidiary Agriculture Development Company (ADC) and a 60% equity stake in Supreme Foods Processing Company.
The transaction is still subject to approval by Kingdom of Saudi Arabia regulators. Springdale-based Tyson did not disclose the amount of the investment but it is within the company’s planned capital spending of $2 billion this fiscal year.
“This investment will enable us to access poultry supplies in Saudi Arabia to meet the growing demand for protein in the Middle East and other markets,” said Chris Langholz, president of International for Tyson Foods. “Expansion into international markets is a key part of our strategic growth plan and we’re pleased to better serve customers in this region.”
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