Tyson Foods Inc. is in exclusive talks with Brazil’s Marfrig Global Foods to buy Keystone Foods, a U.S. supplier of chicken to McDonald’s, one source with knowledge of the matter said on Friday.
Marfrig, which acquired Keystone eight years ago for $1.26 billion, expects to sell the unit for more than double that – a price of up to $3 billion. Among the groups interested in Keystone were Cargill Inc CARG.UL and Cofco Corp CNCOF.UL, Reuters has reported. Bloomberg reported earlier on Friday that Tyson entered into exclusive talks for the deal.
By Tatiana Bautzer and Siddarth Cavale
Source: Reuters
The company expects to eliminate 1.2 billion tons carbon dioxide equivalent of methane emissions by the end of the decade. The company says that it already reduced its methane emissions by around 14% between 2018 and 2020.
The “first-of-its-kind” pilot project will develop and demonstrate an affordable modular bioprocessing system to produce biodegradable bioplastics from food waste diverted from landfills. The three-year grant will test the scalability and feasibility of the conversion on a national and global scale.
Arkeon is allying with specialty mineral giant ICL to support the scaling of its fermentation bioprocess that converts CO2 into the 20 proteinogenic essential amino acids needed in human nutrition. The process, hailed as carbon negative, is based on the use of archaea, a group of microorganisms that naturally feeds off the greenhouse gas.
