Tyson Foods Inc. on Friday said it has agreed to buy a 40% stake in Grupo Vibra, a Brazilian poultry company.
Terms of the deal were not disclosed, and the transaction is subject to approval by Brazilian regulators.
Once completed, the deal will give Tyson access to poultry supply in Brazil for the country’s customers and potential access to markets in Asia, Europe and the Middle East, Donnie King, group president of Tyson’s international business and chief administration officer, said in a statement Friday.
“It’s part of our strategy to develop a more flexible supply chain and mitigate the volatility of our previous model, which relied primarily on U.S. exports,” King said.
In the past year, Tyson has expanded its global reach with the acquisitions of a few poultry processing plants in the United Kingdom and Thailand, as well as Keystone Foods, a large supplier for McDonald’s with operations across Asia and in Australia.