Tyson Foods looks to sell non-protein businesses
Tyson explores sale of Sara Lee, Van’s and Kettle to better focus on protein brands
Tyson Foods is exploring the sale of three non-protein businesses as part of its strategic focus on protein-packed brands.
The company on April 24 announced that it is considering selling its Sara Lee Frozen Bakery business, the Kettle business, a producer of sauces, dips and side dishes, and Van’s, a producer of waffles and grain-based breakfast foods.
Company officials, according to a press release, believe that the sale of these businesses will allow Tyson to focus on its core businesses and expand its protein leadership position at the retail and foodservice level.
“Through our ongoing strategic planning process, we’re continuously looking at ways to maximize the effectiveness and growth potential of our protein-based portfolio of products,” said Tom Hayes, president and CEO of Tyson Foods. “The businesses we’re exploring to sell include well-respected brands, operations and product lines. With our protein-focused strategy, we believe other companies may be better positioned to unlock their value over time.”
Sara Lee Frozen Bakery, the Kettle business and Van’s produce items such as frozen desserts, waffles, breakfast bars and soups, sauces and sides. Any sale would include the Chef Pierre, Bistro Collection, Kettle Collection and Van’s brands, a license to use the Sara Lee brand in various channels, as well as the company’s prepared foods facilities in Tarboro, North Carolina, Fort Worth, Texas, and Traverse City, Michigan.
Rothschild is acting as Tyson Foods’ financial advisor on the sale.