News Jul 2, 2008
Tyson enters JV with leading poultry processor in India
Tyson Foods has announced that it has acquired majority ownership of a leading poultry processor in India.
The US company has reportedly purchased 51% ownership of Godrej Foods Ltd., a Mumbai-based subsidiary of Indian agribusiness Godrej Agrovet Ltd.
The joint venture, called Godrej Tyson Foods, has expected initial annual sales reaching $50 mln with room for growth as operations expand.
The venture includes one chicken processing facility in Mumbai and another in Bangalore, with a combined production capacity of 60,000 birds per day and a workforce of about 1,000 contact production workers.
Godrej's processing operations are supplied by six contracted hatcheries and a network of contracted broiler operations.
"Poultry production and consumption is growing in India and we believe the timing is right for us to bring our expertise and resources to this emerging market," said group vice president and international president for Tyson Foods, Rick Greubel. "India has a population of more than 1.1 bln people, and while per capita chicken consumption there is currently less than five pounds a year, its annual growth rate of more than 10% is among the highest in the world."
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