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
In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.
Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.