Meat+Poultry - July 2018 - 12

BUSINESS NOTES

interest held by other stockholders.
According to the agreement,
Jefferies and other investors cannot sell
their shares in National Beef for at least
five years.
With beef as one of Marfrig's core
business segments, the addition of
National Beef solidifies its global
position in the industry. It gives Marfrig
additional access to National Beef's 40
export markets, including Japan, where
beef exports are currently banned.

TYSON FOODS TO ACQUIRE
TECUMSEH POULTRY
Tyson Foods Inc. has announced its
acquisition of Tecumseh Poultry LLC.
The purchase includes Tecumseh's
air-chilled Smart Chicken brand and
makes Tyson one of the nation's leading
producers of organic branded chicken.
Terms of the deal were not disclosed.
Tyson also produces organic products
under its NatureRaised Farms and
Aidells brands.
"Consumers want choices. More and
more consumers want options for fresh,
organic food that fits their lifestyles,"
said Eric Schwartz, chief marketing
officer of Poultry for Tyson Foods. "The
Smart Chicken brand is a leader in this
key organic category, and the category's
growth makes this acquisition a
strategic fit for Tyson Foods."
Founded in 1998, Tecumseh
produces fresh chicken, air-chilled
chicken, deli-style chicken and a
variety of chicken sausage. Air-chilling
uses cold air to cool chicken during
processing rather than the industry
standard water-chilling.
The company's operations include
two plants located in Tecumseh and
Waverly, Nebraska, as well as live

MEAT+ POULTRY | 07.18 | www.meatpoultry.com

CHEF'D EXPANDS RETAIL
MEAL KITS TO NYC
Los Angeles-based meal kit company
Chef'd, along with its partner Smithfield
Foods, announced that 30 select
Walgreens and Duane Reade stores in
the metropolitan New York area will
have meal kits on their shelves.

A selection of Chef'd meal kits
will now be available for pickup
from refrigerated displays at certain
Walgreens locations in Brooklyn,
Manhattan, Forest Hills, Hoboken,
Jersey City and Yonkers.
Each kit features ready-to-cook
pre-portioned ingredients, including
fresh herbs, leafy greens, and USDA
Choice proteins. Instore Chef'd meal
kits are designed for convenience and
total prep-to-plate times of 10 minutes
to 30 minutes.
"Since its launch as the only nonsubscription meal kit company, Chef'd
has been dedicated to providing
customers with more quality meal
kit offerings in more locations," said
Chef'd CEO Kyle Ransford. "Through
our expansion into New York area
Walgreens stores in partnership with

Smithfield Foods, we are able to
extend meal kits to new audiences
and occasions."
Over a dozen retailers in 27 states
now offer Chef'd kits. Stores with kits
include Costco, Harris Teeter, Tops,
Hy-Vee, Weis and Gelson's Markets.

PREMIUM BRANDS ACQUIRES
CONCORD PREMIUM MEATS
Premium Brands Holdings Corp.
completed the acquisition of Concord
Premium Meats, manufacturer of
branded and customized protein
solutions for retailers and foodservice
customers across Canada.
Concord Premium Meats is one
of four acquisitions Premium Brands
closed this year along with The
Meat Factory Ltd., an Ontario-based
manufacturer of cooked protein
products for retailers and foodservice
customers; Country Prime Meats
Ltd., a maker of shelf-stable meat
snacks based in British Columbia and
Frandon Seafood Inc., a Quebec-based
distributor of fresh and frozen seafood
to foodservice and retail customers in
the greater Montreal, Quebec, area.
The combined purchase price for
the four companies was $227 million
and consisted of $155.9 million in
cash, $45.4 million in Premium Brands'
common shares, $23.7 million in
promissory notes and $2 million in
contingent consideration.
"We are very excited to welcome
Concord and its talented management
team into the Premium Brands family.
Its entrepreneurial culture is a perfect
fit for us," said George Paleologou,
president and CEO of Premium Brands.
"Furthermore, its focus on products
that are benefiting from a variety of
long-term consumer trends, combined
with its product innovation abilities
and production capacities, will help to
further accelerate the growth of our
Protein Group."

For more news,
visit MEATPOULTRY.com

Tecumseh Poultry LLC; Chef'd

12

operations. Tyson Foods currently
plans to operate Tecumseh Poultry as
a wholly owned subsidiary and expects
its approximately 600 team members to
retain their positions.
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Meat+Poultry - July 2018

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