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story.lead_photo.caption Tyson Foods Inc. corporate logo. This is different than the Tyson consumer brand logo. 02/20/17

Tyson Fresh Meats, Inc. is working with longtime customer Jacob Stern & Sons to start a joint venture serving the global fats and oils market.

Terms of the deal were not disclosed in a news release. The venture, JST Global LLC, will process Tyson's beef and pork byproducts for use in industries such as personal care and pharmaceuticals, the companies said.

"We maximize the value of every animal we harvest so that no part of the animal goes to waste," said Steve Stouffer, group president of Tyson Fresh Meats, in a statement.

"This joint venture gives us the opportunity to continue to value-up our beef and pork production, enabling us to innovate in new untapped markets while continuing to work directly with existing animal fat customers and the emerging renewable energy market," he said.

After a transition period, the companies said that the marketing of all animal fats from Tyson Fresh Meats, a wholly-owned beef and pork subsidiary, will be done by JST Global at facilities in Houston, Dakota Dunes, S.D., and Omaha.

Sales teams from Jacob Stern & Sons and Tyson Fresh Meats will collaborate on the project.

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