Brazilian meat industry welcomes Tyson investment

By Aidan Fortune contact

- Last updated on GMT

Brazilian meat industry welcomes Tyson investment

Related tags: Poultry

The Brazilian Association of Animal Protein (ABPA) has welcomed Tyson’s recent announcement that it intends to acquire 40% of poultry producer Grupo Vibra.

Announced last week​, the deal will see Tyson acquire a major stake in the Brazilian poultry business that has 18 processing sites across the country and employs more than 4,000 people. Tyson said the move was designed to facilitate better access to markets such as Asia, Europe and the Middle East.

ABPA president Francisco Turra said the deal “reaffirms the positive momentum experienced by the production sector”​.

In June 2014, Tyson sold its Brazilian poultry business, along with its Mexican poultry business, to JBS SA due to it not having the “necessary scale to gain leading share positions in these markets”​, according to then president and CEO Donnie Smith.

According to Turra, favorable indicators for sector growth including attracting foreign investment for poultry, as well as for Brazilian pig farming.

“Brazil's animal protein sector is once again one of the main engines for national economic growth. The intensification of exports underscores a sustainable and quite attractive framework for new investments,” ​he added.

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