Tyson Foods will sell its poultry businesses in Mexico and Brazil to Brazilian meatpacker JBS SA for $575 million in order to help pay for its acquisition earlier this month of Hillshire Brands, the company announced on Monday.
JBS was one of Tyson’s competitors in the bid to acquire Hillshire, for which Tyson paid $7.8 billion, The Wall Street Journal reports. While it lost the bid, JBS will now gain two-thirds of Tyson’s non-American employees. The remaining third are mainly in China, soon to be Tyson’s only major operation outside of the United States.
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