Tyson Foods is selling both its Mexican and Brazilian poultry businesses for a total of $ 575 million to help pay for its acquisition of Hillshire Brands, the company announced today.
Last month Tyson agreed to purchase Hillshire Brands for $ 63 a share. Pilgrim’s Pride will purchase the Mexican business — Tyson de México — with three plants and 5,400 employees, and JBS Foods is purchasing the Brazilian business Tyson do Brasil including three plants and 5,000 employees.
The acquisitions are expected to be completed by the end of this year.
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