Tyson Foods expands in Middle East with stakes in Saudi companies

Tyson Foods Inc. announced Wednesday that it has taken a 15% equity stake in Agriculture Development Company (ADC), a subsidiary of Saudi Arabia-based Tanmiah Food Company, and a 60% equity stake in Supreme Foods Processing Company. Further financial details of the partnerships were not disclosed. ADC is a poultry producer that operates hatcheries and feed mills. Supreme produces chicken and beef products that are distributed across the Middle East, including Kuwait, Bahrain and Oman. The partnerships expand Tyson’s reach across the region and, according to a statement from Chris Langholz, Tyson’s president of international, is part of Tyson’s strategic growth plan. Tyson’s international sales in fiscal 2021 were 14% of total sales of $47.049 billion. Tyson stock has edged down 1.6% for the year to date.

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