Saudi’s Tanmiah, US-based Tyson Foods deal to explore global Halal market

Saudi’s Tanmiah, US-based Tyson Foods deal to explore global Halal market

Saudi-based Tanmiah Food Company has entered into a strategic partnership agreement with US-based Tyson Foods as part of sustained efforts to meet the growing global demand for protein.

The parties to the agreement are Tyson Foods and Agricultural Development Company (ADC) and Supreme Foods Processing Company (SFPC), Tanmiah’s wholly-owned subsidiaries.

As part of the agreement, Tyson Foods and Tanmiah have committed to invest substantially to expand the processing capacities of SFPC. This investment is aligned with Tanmiah’s strategic expansion agenda and will result in doubling the company’s production capacity in value-added products.

Both companies, through a 50-50 joint venture, will also explore opportunities in the fast-growing global Halal market. Tyson Foods will own a 15 percent equity stake in ADC and a 60 percent equity stake in SFPC through a deal valued at $70 million. The transaction will be subject to approval by the General Authority for Competition in Saudi Arabia and other government entities.

Through this partnership, Tanmiah will continue to support the growth of Saudi Halal products by bringing world-class sector expertise to the Kingdom. Through its expansion, Tanmiah will also create a number of job opportunities in the local Saudi market.

Tan Sun

President

Tyson Foods APAC “The strategic partnership is expected to accelerate