Tyson Foods sold its 49% stake in a joint venture it had with Indian company Godrej Agrovet.
With the transaction, Godrej, which previously held a 51% stake, is the full owner of the company known as Godrej Tyson Foods, which was formed in 2008. Godrej informed the Bombay Stock Exchange (BSE) that it had completed the acquisition, and a related filing can be found on the BSE website, dated August 27.
The filing, signed by Godrej Agrovet Legal & Company Secretary and Compliance Officer Vivek Raizada, did not state whether the company’s name would remain the same without partial ownership by Tyson.
The transaction involved 97,461 shares.
Godrej Tyson Foods, according to the company’s new full owner, is “engaged in the business of processing, converting, producing, manufacturing, formulating, using, buying, acquiring, storing, packing, canning, preserving, selling, transporting, distributing, importing, exporting, trading and otherwise dealing in all types (of) food products, beverages, meats, fish, marine products, birds, poultry products, fruits, vegetables dairy products, wholesale and retail butchers and purveyors of, growers, grazers, breeders and dealers in cattle, sheep pigs, birds poultry, fish shrimp, marine creatures and other live and dead stock.”
Tyson Foods did not respond to a request for comment.
Godrej Agrovet mentioned its intent to make the transaction on August 1, when it released its financial results of the fiscal year’s first quarter. In that same report, it was announced that Godrej Tyson Foods saw revenues decline in the quarter, primarily due to lower volumes in the live bird business as it continued to focus on its branded business.
Godrej Agrovet, on its website, describes itself as “a food and agri conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields.”
