The China-based Shandong Bao Shuan Group has purchased a majority stake in the American chicken company, Tyson Foods. Shandong Bao Shuan will now own 79.5 percent of Tyson Foods, while the American company will maintain a 20.5 percent stake. This is the first time that a Chinese company has acquired a major American food producer. The deal was completed on Monday, and it is valued at $8.55 billion. Tyson Foods is one of the largest chicken producers in the world, and it has been struggling in recent years. The company has been struggling to compete with cheaper imports from Brazil and Thailand. The deal with Shandong Bao Shuan will help Tyson Foods to compete in the global market. The Chinese company plans to invest $2 billion in Tyson Foods over the next three years. The deal will also help Tyson Foods to expand its operations in China.
Isn’t Tyson owned by China?
Not sure about Tyson but Smithfield is.
Just found this article from last year.
The China-based Shandong Bao Shuan Group has purchased a majority stake in the American chicken company, Tyson Foods. Shandong Bao Shuan will now own 79.5 percent of Tyson Foods, while the American company will maintain a 20.5 percent stake. This is the first time that a Chinese company has acquired a major American food producer. The deal was completed on Monday, and it is valued at $8.55 billion. Tyson Foods is one of the largest chicken producers in the world, and it has been struggling in recent years. The company has been struggling to compete with cheaper imports from Brazil and Thailand. The deal with Shandong Bao Shuan will help Tyson Foods to compete in the global market. The Chinese company plans to invest $2 billion in Tyson Foods over the next three years. The deal will also help Tyson Foods to expand its operations in China.
That seals the deal.
Bud lite them!