Tyson Acquires Competitor AdvancePierre Foods For $4.2 Billion

Huge conglomerate Tyson Foods said it is acquiring prepared foods competitor AdvancePierre Foods Holdings for approximately $4.2 billion, comprising $3.2 billion in stock and $1.1 billion in debt assumption. The offer price ($40.25 a share) amounts to a 31.8 percent premium on AdvancePierre’s closing stock price on April 5. Tyson says the acquisition is expands its portfolio of prepared foods and protein-based brands, “contributing to sustainable, long-term growth.” AdvancePierre produces ready-to-eat lunch and dinner sandwiches, sandwich components and snacks. According to Tyson, AdvancePierre’s portfolio fits Tyson’s strategy of expanding fresh-prepared foods for both out-of-home and in-home eating. It will also extend Tson’s operations in convenience and retail segments with “solutions that span all-day parts.” [Image Credit: © AdvancePierre Foods ]