null Tyson expands international presence with poultry partnership in Malaysia
Tyson expands international presence with poultry partnership in Malaysia
11 Feb 2021 | Thursday Source: Meat Poultry
Officials with Tyson Foods Inc. said it will expand its presence in Malaysia by purchasing 49% ownership in Malayan Flour Mills Berhad’s (MFM) vertically integrated poultry business in a deal the companies said will increase the availability of halal-certified poultry to domestic customers and export partners. Terms of the purchase were not disclosed and finalizing the deal requires the approval of MFM stakeholders.
Tyson operates a plant and an innovation center in the country currently and a Tyson international business official said the partnership will increase its footprint and diversify its offerings and distribution of products. MFM was established in 1961 and has evolved to become a leading flour miller in Malaysia. MFM also maintains feed mills, processing facilities, hatcheries and farms in the country and has become a leading poultry company there for the past 30 years. The value of the halal poultry market is forecast to top $147 billion in the next five years with halal exports accounting for $9 billion.
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