Tyson Foods to sell chicken complex in Georgia
by July 9, 2024 5:01 pm 335 views
Springdale-based Tyson Foods announced Tuesday (July 9) the company entered into an agreement to sell its Vienna, Ga., poultry complex to Arcadia, La.-based House of Raeford Farms for an undisclosed value.
Tyson Foods said its decision to sell the complex is part of its continued efforts to optimize its plant network.
“We will continue to service customer orders from other production locations. House of Raeford Farms intends to continue poultry processing at the complex utilizing the existing workforces and grower network,” Tyson Foods noted in the release.
Tyson said the transaction is subject to customary closing conditions including approval by U.S. regulators.
The move in Georgia is part of the company’s efforts to improve its chicken segment. Tyson plant closures in 2023 resulted in an estimated 4,500 job losses, with plant closings including around 1,000 job losses in Van Buren, Ark., and around 200 jobs lost with a plant closing in North Little Rock.
Shares of Tyson Foods (NYSE: TSN) closed Tuesday at $55.91, down 78 cents. The price was unchanged in after hours trading. Year-to-date, Tyson’s share value is up 4.02%. Over the past 52-weeks the share price has ranged from $44.94 to $62.04.