USA, Sprindale, Arkansas. Tyson Foods, Inc. and AdvancePierre Foods Holdings, Inc. (“AdvancePierre”) announced that they have entered into a definitive merger agreement pursuant to which a subsidiary of Tyson will launch a tender offer to acquire all of AdvancePierre’s outstanding common shares for $40.25 per share in cash. This strategically compelling transaction provides a unique opportunity to create value by joining highly complementary market-leading portfolios.
Tyson President and CEO Tom Hayes said that the AdvancePierre leadership team has created significant value through the implementation of a new business management model, focus on quality and service and attention to the growth opportunities in convenience foods. The addition of AdvancePierre aligns with Tyson’s strategic intent to sustainably feed the world with the fastest growing portfolio of protein packed brands. This transaction will provide an attractive current premium to AdvancePierre shareholders as well as significant ongoing benefits to Tyson shareholders and the customers and team members of both companies. According to him AdvancePierre and Tyson were a natural strategic fit and together they will accelerate growth for customers by delivering on-trend, high quality products consumers love.