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Tyson Plans Joint Venture With India-Based Godrej
POSTED: 10:58 am CDT June 30,
2008
UPDATED: 11:19 am CDT June 30,
2008
SPRINGDALE, Ark. -- Springdale-based Tyson Foods Inc. announced Monday that it has bought 51 percent ownership of Godrej Foods, Ltd., based in Mumbai, India. The joint venture will be called Godrej Tyson Foods and is expected to have annual sales starting at $50 million.The venture includes chicken processing plants in Mumbai and Bangalore. The plants have a combined production capacity of 60,000 birds per day and have about 1,000 workers. Tyson and Godrej officials said they plan to build new processing plants in other parts of India within the next several years.Godrej now sells fresh chicken under the "Real Good Chicken" brand name and processed chicken, such as breaded chicken nuggets and patties. Godrej also sells frozen vegetables under the "Yummiez" brand.
The financial terms of the deal were not disclosed.
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